VANCOUVER, BC / ACCESSWIRE / September 8, 2016 / Fjordland Exploration Inc. (TSXV: FEX)
announces that it plans to raise up to $1,000,000 through a
non-brokered private placement (the "Private Placement") of up to
10,000,000 units (the "Units") at a price of $0.10 per Unit to
accredited investors and others. Each Unit will consist of one common
share of the Company (a "Share") and one non-transferable warrant (a
"Warrant"). Each Warrant will entitle the holder to purchase one
additional Share at a price of $0.15 for a period of 12 months from the
The expiry date of each whole Warrant is subject to acceleration such
that, should the volume weighted average price of the common shares of
the Company exceed $0.30 for ten consecutive trading days, the Company
may notify the holder in writing that the Warrants will expire 20
trading days from receipt of such notice unless exercised by the holder
before such date.
In addition to any other exemptions available, participation in the
financing is also open to existing shareholders of Fjordland who as of
the close of business on September 7, 2016 ("Record Date"), held common
shares of Fjordland (and who continue to hold common shares of Fjordland
at the time of closing), pursuant to the prospectus exemptions set out
in B.C. Instrument 45-534 and in similar instruments in other provinces
of Canada. In accordance with the Existing Shareholder Exemption, the
Company confirms there is no material fact or material change related to
the Company which has not been generally disclosed.
Any existing shareholder who wishes to participate in the Private
Placement is asked to please contact Janice Davies, Corporate Secretary
of the Company at (604) 506-2099 or by email to:
in order to receive subscription documentation and instructions. The
Offering will remain open to existing shareholders until September 30,
Unless the Company decides to increase the gross proceeds of the
Offering and receives Exchange approval for such increase and
subscriptions received for the Private Placement based on all available
exemptions exceed the maximum Offering amount of $1,000,000,
subscriptions will be accepted at the discretion of the Company.
The Company intends to use the proceeds for exploration at the
Company's Saskatchewan diamond property and working capital for general
The Private Placement is subject to TSX Venture Exchange approval and
all securities will be subject to a four month hold period.
Engagement of Freeform Communications Inc.
The Company has engaged Freeform Communications Inc., managed by
Robert Ferguson, sole director, under an agreement dated September 1,
2016, to provide investor relations services for an initial term of
three months at a remuneration of $4,000 per month. A stock option of
200,000 shares has been granted to Freeform Communications exercisable
at $0.125 per share for a period of one year.
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company with
other assets but currently focused on diamond exploration. For further
information visit Fjordland's website at
On behalf of the Board of Directors,
"Richard C. Atkinson"
Richard C. Atkinson, P.Eng.
President & CEO
We seek safe harbour
For further information, please call:
FJORDLAND EXPLORATION INC.
Richard C. Atkinson, President and CEO
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. Statements in this press release,
other than purely historical information, including statements relating
to the Company's future plans and objectives or expected results, may
include forward-looking statements. Forward-looking statements are based
on numerous assumptions and are subject to all of the risks and
uncertainties inherent in resource exploration and development. As a
result, actual results may vary materially from those described in the
Not for dissemination in the United States or through U.S. newswires.
SOURCE: Fjordland Exploration Inc.