Fancamp Announces Litigation Settlement and Shares for Debt Transaction

Core Viewpoint - Fancamp Exploration Ltd. has entered into a settlement agreement with a former director to resolve litigation proceedings related to a consulting agreement termination [1][2]. Group 1: Litigation Proceedings - The litigation involved a claim filed by the former director and his controlled entity in the Ontario Superior Court, seeking liquidated damages from Fancamp due to the termination of a consulting agreement [2]. - Fancamp also initiated a civil claim against the former director in the Supreme Court of British Columbia [2]. Group 2: Settlement Agreement - As part of the settlement, Fancamp will issue 1,428,572 common shares to the former director at a deemed price of $0.07 per share, contingent upon TSX Venture Exchange approval [3]. - The issuance of shares is subject to a statutory hold period of four months and one day from the date of issue [4]. Group 3: Company Overview - Fancamp is a Canadian mineral exploration company focused on growth and monetization opportunities in high-potential mineral projects, including copper, gold, zinc, titanium, and rare-earth metals [5]. - The company holds a 96% interest in Magpie Mines Inc., which owns one of the world's largest undeveloped hard rock titanium deposits [5]. - Fancamp is also involved in various investments, including an iron ore operation and a near-term cash flow generating zinc mine [5].