Source: Accesswire

Press Release: Fjordland Exploration : Fjordland Announces Financing and Engages IR Consultant

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 closing date.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: [email protected] in order to receive subscription documentation and instructions. The Offering will remain open to existing shareholders until September 30, 2016.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 corporate purposes.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 www.fjordlandex.com.On behalf of the Board of Directors,"Richard C. Atkinson"Richard C. Atkinson, P.Eng.President & CEOWe seek safe harbourFor further information, please call:FJORDLAND EXPLORATION INC.Richard C. Atkinson, President and [email protected] 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 forward-looking statements.Not for dissemination in the United States or through U.S. newswires.SOURCE: Fjordland Exploration Inc.

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Fjordland mineral exploration company that engages in acquiring and developing mineral properties. Read more