Fancamp Acquires 13.1% Stake in ScoZinc Mines
October 5, 2021
Fancamp Exploration Ltd. acquired a total of 2,348,485 common shares of ScoZinc Mines Ltd., representing a 13.1% ownership stake. The purchase included a private placement of 1,969,697 shares at C$0.66 per share (C$1.3M total, C$1.0M paid in cash after a C$300k termination fee credit) and 378,788 shares issued to settle a C$250,000 loan; the shares are subject to a hold period expiring February 6, 2022.
- Buyers
- Fancamp Exploration Ltd.
- Targets
- ScoZinc Mines Ltd.
- Industry
- Energy
- Location
- Nova Scotia, Canada
- Transaction Type
- Growth capital
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