FNC Thursday December 17 2009 - Property Agreement
The TSX Venture Exchange has accepted for filing an option agreement dated Dec. 7, 2009, between Les Ressources Tectonic Inc. (the optionee, Jean Laforest) and Fancamp Exploration Ltd. (the company), whereby the company has an option to acquire 44 mining claims located in the Eastern Townships of Quebec, known as the Stoke Mountain property. In consideration, the company will pay a total of $65,000 ($20,000 in the first year) in cash and issue 275,000 common shares (100,000 shares in the first year) over three years. The company's three-year exploration expenditures are in the amount of $600,000 ($150,000 in the first year). The optionee will retain a 2-per-cent net smelter return, of which 1 per cent may be purchased back by the company at any time for $1-million.
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