Fancamp investor Hunter buys 2.63 M shares

2021-05-05 16:08 NT - News Release

Mr. James Hunter reports

MR. JAMES HUNTER INCREASES OWNERSHIP IN FANCAMP EXPLORATION LTD

James Hunter of Saskatoon, Sask., a large shareholder of Fancamp Exploration Ltd., has acquired direct ownership and control of 2,632,000 common shares of Fancamp at a price of 14.5 cents per common share through the facilities of the TSX Venture Exchange.

Prior to the Acquisition, Mr. Hunter held direct and indirect ownership and control over an aggregate of 12,376,000 common shares of the Company, representing approximately 7.45 % of the issued and outstanding common shares of the Company. Pursuant to the Acquisition, Mr. Hunter acquired direct ownership and control of an aggregate of 2,632,000 common shares of the Company representing approximately 1.59 % of the outstanding shares of the Company. On closing of the Acquisition, Mr. Hunter holds direct and indirect ownership and control over an aggregate of 15,008,000 common shares of the Company, representing approximately 9.04 % of the issued and outstanding common shares of the Company.

Mr. Hunter, together with all joint actors (as defined under applicable securities legislation), directly and/or indirectly, have ownership and control over an aggregate of 20,361,597 common shares of the Company representing approximately 12.26% of the issued and outstanding common shares of the Company and an aggregate of 2,400,000 stock options (the "Options"). Assuming exercise of all 2,400,000 Options, Mr. Hunter, together with all joint actors, would have ownership and control over an aggregate of 22,761,597 common shares of the Company representing approximately 13.51% of the then issued and outstanding common shares of the Company.

Mr. Hunter acquired the securities for investment purposes. Depending on the evolution of the Company's business, Mr. Hunter may acquire or dispose of additional securities of the Company in the future through the market, privately, or otherwise, as circumstances or market conditions warrant. As previously disclosed, Mr. Hunter and Dr. Peter H. Smith, a current director of the Company, have entered into an engagement letter with Gryphon Advisors Inc. ("Gryphon") pursuant to which the they engaged Gryphon to act as their strategic shareholder services advisor. On February 2, 2021, Mr. Hunter and Mr. Smith disseminated a news release urging the Company to call an annual general meeting of its shareholders. On May 3, 2021, the Company announced it would hold its annual general meeting on June 29, 2021 (the "AGM"). Mr. Hunter has determined he is working "jointly and in concert" with Llewlyn Holdings Ltd., Dr. Peter Smith, Mark Fekete and Heather Hannan with respect to their efforts to have the Company call an AGM, and voting of the shares held by them at the AGM.

Mr. Hunter and his joint actors have approached several nominees for election to the Company's board of directors at the AGM, however, shareholders are not being asked by Mr. Hunter or his joint actors at this time to execute a proxy in favour of any matter. In connection with the AGM, Mr. Hunter and his joint actors may file a dissident information circular and solicit proxies for the election of nominees to the Company's board of directors in due course and in compliance with applicable securities laws.

A copy of the Early Warning Report filed by Mr. Hunter with the applicable securities regulators in respect of the above acquisition is available at www.sedar.com under the Company's SEDAR profile. For more information or to obtain a copy of Mr. Hunter's Early Warning Report please contact: Gryphon Advisors Inc.Tel: 1-833-461-3651 Email: inquiries@gryphonadvisors.ca To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83011

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