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Fancamp Exploration Ltd V.FNC

Alternate Symbol(s):  FNCJF

Fancamp Exploration Ltd. is a Canadian mineral exploration company. The Company is focused on strategic interests in its high potential mineral projects, royalty portfolio and mineral properties. The Company is focused on an advanced asset play with a portfolio of mineral claims across Ontario and Quebec, Canada, including copper, gold, zinc, titanium, chromium, strategic rare-earth metals, and others. It has investments in an existing iron ore operation in the Quebec-Labrador Trough, a rare earth elements company, NeoTerrex Minerals Inc., in addition to an investment in a zinc mine in Nova Scotia. It is developing an energy reduction and titanium waste recycling technology with its advanced titanium extraction strategy. Its properties include Clinton Property, Stoke Property, DiLeo Property, Grasset Property, Riley Brook property, Gaspe Bay Group Property (including Boisbuisson and St. Marguerite), and other properties. The Clinton Property is located in the Appalachian region.


TSXV:FNC - Post by User

Comment by Aallyyon Feb 13, 2024 12:54pm
163 Views
Post# 35877891

RE:RE:RE:RE:Fancamp had an offer to Purchase

RE:RE:RE:RE:Fancamp had an offer to PurchaseA question is, was an offer brought to the board for discussion and decision? Presumably the company minutes, if not altered in any way would determine this. If someone could get to the minutes, that would be good.

Did the offer damage the best interests of shareholders by declining it? If so, did it then compensate insiders for their best interests? The private placement of 60M shares looks like it did, given all the timing sequences. The fiduciary responsibility of the fancamp management and board is in question here.

The KWG /Magpie announcement was not only with Smith, also with Kamaleddine who is the other remaining holder of the special shares.  Fancamp is only a large shareholder of Magpie but doesn't control the board. Fancamp is not happy about this.

I will have to re-read the nr of last July but believe it was a way forward for CCC to take control of Magpie and benefit the MANY rather than the few. But Fancamp put a stick in the spokes, basically saying anything that is good for shareholders doesn't work for them.

The other laughable part about Magpie and Fancamp is they shared the same law firm, Lavery.  No conflict of interest here!





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