ENP Newswire -
Release date- 04072014 -
Under the Bid, Fancamp intends to purchase up to 10,310,745 common shares, representing approximately 10% of the public float of the issued and outstanding common shares of Fancamp (the 'Common Shares'). Fancamp will cancel any Common Share purchased pursuant to the Bid. The purchases may commence on
Purchases will be made on the open market by Fancamp through the facilities of the Exchange in accordance with the Exchange requirements. Fancamp will pay the market price for Common Shares on the Exchange at the time of purchase, provided however that Fancamp shall not pay a price higher than
The Board of Directors of Fancamp believes that the current market value does not reflect the fair, fundamental value of Fancamp. Fancamp also thinks that the repurchasing of Common Shares which it may carry out, from time to time, will be in the best interest of its shareholders. Fancamp has not purchased any of its shares during the past 12 month period.
Fancamp has an exceptional inventory of resource projects at various stages of development covering more than 1,710 km2 in three provinces. The commodities include hematite-magnetite iron formations, titaniferous magnetite, hematite, nickel/copper/PGM, chromite, Volcanogenic Massive Sulphides and gold.
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