Fancamp Announces Receipt of Extension Notice of Maturity Date of Secured Convertible Promissory Note

Group 1 - Fancamp Exploration Ltd. has received notice from The Canadian Chrome Company Inc. regarding the extension of the maturity date of a secured convertible promissory note from September 1, 2026, to August 31, 2027, contingent on no event of default occurring before September 1, 2026 [1] - The secured convertible promissory note, originally issued on September 1, 2022, has a principal amount of C$34.5 million, bearing an annual interest rate of 6%, and includes equity interests in CCC and a 2% net smelter return royalty on mining claims [2] - Fancamp is focused on mineral exploration and has a diversified portfolio that includes interests in copper, gold, zinc, titanium, chromium, iron, and rare-earth metals, with significant projects in Ontario, Québec, and New Brunswick [3] Group 2 - The corporation has monetization opportunities from its transaction with CCC in the Ring of Fire region, which is known for its high mineral potential [3] - Fancamp holds a 96% interest in Magpie Mines Inc., which owns one of the largest undeveloped hard rock titanium deposits globally, according to USGS data [3] - A strategic reorganization has led to the incorporation of a subsidiary, Goldera Exploration Ltd., aimed at spinning out core exploration projects to create two distinct entities for shareholders [3]