VANCOUVER, BC / ACCESSWIRE / September 29, 2016 / Fjordland Exploration Inc. (TSX-V: FEX)
reports that a portion of the non-brokered private placement announced
on September 8, 2016 has closed and a total of 2,521,500 Units at a
price of $0.10 per Unit have been issued for gross proceeds of $252,150.
Unit consists of one common share and one transferable share purchase
warrant (the "Warrants"), with each Warrant entitling the holder thereof
to purchase one additional common share at a price of $0.15 per common
share until September 27, 2017. 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.
fees were paid as follows: $1,200 and 12,000 Finder's Warrants to
Canaccord Genuity Corp.; $1,200 and 12,000 Finder's Warrants to Haywood
Securities Inc.; $US595 to Cowboy Capital Management LLC. The Finder's
Warrants have the same terms as the Warrants.
shares issued in connection with this private placement and all common
shares issuable upon exercise of Warrants and Finder's Warrants, are
subject to a four month hold period and may not be traded until January
Richard Atkinson, President & CEO, announces that Fjordland has
learned, based on this mornings news release issued by CanAlaska Uranium
Ltd ("CanAlaska") that DeBeer's has terminated the autumn drill program
earlier than expected. Wet weather hampered the program and several
intended land based targets have been deferred to the winter drill
program. Mr. Atkinson states that while today's news is disappointing
he, along with CanAlaska's management is encouraged that the winter
drill program is expected to proceed as planned.
The salient paragraphs of CanAlaska's release are quoted below:
"CanAlaska Uranium Ltd. "the Company" (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) ("CanAlaska"
or the "Company") has been informed by De Beers Exploration that seven
of 11 anomalies originally targeted as accessible for the summer program
at the West Athabasca project were drilled, while the remaining four
targets have been deferred due to high water levels. All remaining
targets will be inaccessible until the winter freeze takes place.
condensed summer program finished without intersecting kimberlite. De
Beers is still receiving and analyzing physical property data from the
last hole to better understand the overburden's physical properties, and
geophysical response. All the drill core will be removed from site and
transported to De Beers facility in Sudbury for further review and
President Peter Dasler said: "The large number of anomalous geophysical
responses, scattered across the 100 kilometre (60 mile) long zone,
provides logistical challenges. This coupled with an abnormally wet fall
season, has slowed the previous rapid advancement of this project. We
look forward to winter freeze, so that site access becomes an easier
exercise. We also look forward to the continual systematic testing of
the various targets this winter."
About the West Athabasca Diamond Project
and De Beers are exploring the West Athabasca Project for diamonds
under a staged $20.4 million Option-Participation Agreement. The project
area covers 85 kimberlite-style targets staked by CanAlaska in the
northwestern Athabasca Basin of Saskatchewan. De Beers may earn an
interest in the Project through a series of escalating exploration
About Fjordland Exploration Inc.
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
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