Fancamp Announces Intention to Launch Normal Course Issuer Bid
Executive Summary
- Fancamp Exploration’s Board authorized a normal‑course issuer bid to repurchase up to 12,118,116 common shares (~5% of outstanding shares).
- The NCIB is expected to commence around December 16, 2025 and run for up to 12 months, subject to TSX‑V approval.
- An amendment to the existing option agreement with Harfang Exploration was disclosed, setting the share‑issuance price for a potential 80% interest in the Egan mineral property at the VWAP of the prior 10 trading days (minimum $0.064 per share).
Key Details
- NCIB Scope: Up to 12,118,116 common shares may be purchased and cancelled; represents ~5% of current issued & outstanding shares.
- Timing: Anticipated start ≈ December 16, 2025; termination no later than 12 months after commencement or earlier at Fancamp’s discretion.
- Execution: Purchases to be made on the TSX‑V open market through Ventum Financial Corp., at prevailing market prices and in compliance with regulatory requirements.
- Purpose: Management believes the current share price undervalues the company; repurchasing shares is intended to enhance long‑term shareholder value and represents an appropriate use of financial resources.
- TSX‑V Approval: NCIB is contingent upon receipt of approval from the TSX Venture Exchange.
- Insider Activity: To date, no directors, senior officers, insiders or their associates have indicated intent to sell shares under the NCIB.
Option Agreement Amendment (Harfang Exploration)
* Property: Egan mineral property in Ontario’s Abitibi greenstone belt.
Potential Interest: Up to 80% ownership for Fancamp upon exercise of the option.
Share‑Issuance Price: Equal to the volume‑weighted average price (VWAP) of Fancamp common shares on the TSX‑V over the ten trading days preceding issuance, with a floor price of $0.064 per share.
Conditions:* Amendment subject to final TSX‑V approval; all other terms of the original option agreement remain unchanged.
Notable Quotes
“The NCIB demonstrates our conviction that the current share price undervalues the Corporation and its future prospects, especially as we move forward with the Spin Out process to create two compelling opportunities for shareholders.” – Rajesh Sharma, President & CEO
All boilerplate, forward‑looking disclaimer text and company background have been omitted for brevity.