Agoracom Blog Home

Archive for the ‘Fairmont Resources’ Category

Fairmont Resources Inc. Completes Sale of Rome Lithium Property, Update on Grabasa Acquisition and Eureka Trading, and Canadian Projects $FMR.ca

Posted by AGORACOM-JC at 9:30 AM on Thursday, August 3rd, 2017

Logo

  • No superior offers have been received for the Rome Lithium Property, and as a result the Company has agreed to move forward with the previously announced transaction

Vancouver, British Columbia–(August 3, 2017) – Fairmont Resources Inc. (TSXV: FMR) (“Fairmont or the “Company”) announces that no superior offers have been received for the Rome Lithium Property, and as a result the Company has agreed to move forward with the previously announced transaction (Press Release dated June 29, 2017) with Jourdan Resources Inc. (“Jourdan”) Upon TSX approval, Fairmont will receive $25,000 cash ($25,000 was received as part of a Right of First Refusal associated with signing the Letter of Intent), 1,500,000 shares of Jourdan, and a 2% NSR on the Rome property.

Grabasa

Fairmont has received notice that its appeal of the Spanish Court’s termination of Fairmont’s offer to acquire certain assets of Granitos de Badajoz (“Grabasa”) has been denied. On July 7, 2017, the Spanish Court declined Fairmont’s appeal and upheld the decision to terminate Fairmont’s bid for the Grabasa assets. Fairmont is currently assessing its options. Fairmont is still free to bid for the asset in an open competition, and continues to work with potential funding partners.

Eureka Trading

Fairmont has also made a decision not to appeal the Spanish Court’s Decision with respect to Eureka Trading’s claim for a success fee relating to the failed attempt to purchase the Grabasa assets. The Company has determined that launching a proper appeal in Spain, which could continue for years, would cost hundreds of thousands of dollars, and that the company’s resources are best directed elsewhere. The Company is working on settlement options with respect to this issue.

Other Canadian Projects

The past producing Lac Brule Quartz Mine that Fairmont Resources completely surrounds was recently sold by the previous owner and dewatering of the open pit has commenced. It is unclear at this time if the new owner is looking to produce quartz or aggregate. Additional information will be provided on the Company’s website as it becomes available.

The sampling for PCC from the Baie Comeau Quartzite property has been collected and arrangements to ship the sample to Germany are underway.

Several interested parties have approached Fairmont with respect to the acquisition of both the Forestville and Baie Comeau Quartzite properties, but no decision has been made with respect to the offers. Fairmont would consider JV partners to help accelerate the development of these projects, and interested parties are encouraged to contact the Company.

With respect to the Buttercup property, which is under binding letter agreement with Prophecy Development Corp. (announced on July 21, 2017), developments towards extracting aggregate are moving forward and Fairmont and its consultants in Quebec are assisting Prophecy in contacting local drilling, blasting, crushing and hauling contractors who had previously been working with Fairmont to develop the project. Fairmont is very encouraged by the dedication that Prophecy’s management team is giving to the project, and the Company expects aggregate extraction equipment to be on site in August 2017. The closing of the transaction is subject to Prophecy being satisfied with the results of its due diligence that may include bulk sampling.

About Fairmont Resources Inc.

Fairmont Resources Inc. is a rapidly growing industrial mineral company trading on the Toronto Venture Exchange symbol FMR.

Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for ferro silicon production.

On behalf of the Board of Directors,

Michael A. Dehn
President and CEO, Fairmont Resources Inc.
Tel:647-477-2382
michael@fairmontresources.ca
www.fairmontresources.ca

For further information please contact:

Doren Quinton,
President QIS Capital
Tel:250-377-1182
info@smallcaps.ca
www.smallcaps.ca

 

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Fairmont Resources Inc. and PCC SE Sign Quartzite Evaluation Agreement $FMR.ca

Posted by AGORACOM-JC at 1:28 PM on Monday, March 20th, 2017

Logo

  • Signed a quartzite testing agreement with PCC SE to validate the chemical and thermal stability of Fairmont’s Baie Comeau and Forestville Quartzite Projects, as well to evaluate the commercial feasibility of a mining operation and logistics
  • Based on positive findings, PCC would look to test a larger volume of material in order to evaluate whether the quartzite may be suitable for use in PCC’s Silicon Metal Project in Iceland

VANCOUVER, BC / March 20, 2017 / Fairmont Resources Inc. (TSXV: FMR) (“Fairmont”) is pleased to announce that the Company has signed a quartzite testing agreement with PCC SE (“PCC”) to validate the chemical and thermal stability of Fairmont’s Baie Comeau and Forestville Quartzite Projects, as well to evaluate the commercial feasibility of a mining operation and logistics. Based on positive findings, PCC would look to test a larger volume of material in order to evaluate whether the quartzite may be suitable for use in PCC’s Silicon Metal Project in Iceland.

“We are pleased with the very expedient discussions with PCC and appreciate the common sense and up front approach with Fairmont,” states Michael Dehn, President and CEO of Fairmont Resources.

Additional information on Fairmont’s Quartzite Projects can be found at:

http://fairmontresources.ca/projects-forestville.php
http://fairmontresources.ca/projects-baiecomeau.php

About PCC

PCC is a value-driven corporation with more than 3,000 employees at 39 sites in 17 countries. Headquartered in Duisburg, Germany, PCC SE is the holding company of the PCC Group and its affiliated companies, which are assigned to the Group’s Chemicals, Energy and Logistics divisions. Functioning as the Holding segment of the group, PCC SE also manages major investment projects through their development and construction phases.

In Iceland the PCC SE is building with its project company PCC BakkiSilicon hf, Húsavík, one of the world´s most advanced and most environmentally compatible silicon metal production plants, with completion due in 2018.

http://www.pcc.eu/

About Fairmont Resources Inc.

Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.

Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have displayed exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.

On behalf of the Board of Directors,

Michael A. Dehn
President and CEO, Fairmont Resources Inc.
Tel:647-477-2382
michael@fairmontresources.ca
www.fairmontresources.ca

For further information please contact:

Doren Quinton
President QIS Capital
Tel:250-377-1182
info@smallcaps.ca
www.smallcaps.ca

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Fairmont Resources Inc. (TSX-V: FMR) Requests and Receives Extension for Grabasa Acquisition $FMR.ca

Posted by AGORACOM-JC at 12:00 PM on Thursday, March 9th, 2017

Logo

  • Received an extension to complete the payment for Granitos de Badajoz (“Grabasa”) until April 24, 2017 from the Spanish Court in Badajoz

VANCOUVER, BRITISH COLUMBIA–(March 9, 2017) – Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce it has received an extension to complete the payment for Granitos de Badajoz (“Grabasa”) until April 24, 2017 from the Spanish Court in Badajoz.

“Unexpected delays with clearance documentation from the European based funding group put us in a position that required an extension request,” states Michael Dehn, President and CEO of Fairmont Resources.

About Fairmont Resources Inc.

Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.

Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.

On behalf of the Board of Directors,

Michael A. Dehn, President and CEO, Fairmont Resources Inc.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Michael A. Dehn
President and CEO, Fairmont Resources Inc.
647-477-2382
michael@fairmontresources.ca
www.fairmontresources.ca

Doren Quinton
President QIS Capital
250-377-1182
info@smallcaps.ca
www.smallcaps.ca

Fairmont (TSX-V: FMR) Receives Short Extension For Grabasa Acquisition $FMR.ca

Posted by AGORACOM-JC at 11:40 AM on Wednesday, February 22nd, 2017

  • Received an extension to complete the payment for Granitos de Badajoz  until March 8, 2017 from the Spanish Court in Badajo
  • “We have been working diligently with a European based funding group and they are in the final stages of completing the necessary documentation,” states Michael Dehn, President and CEO of Fairmont Resources…”

VANCOUVER, BRITISH COLUMBIA–(Feb. 22, 2017) – Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce it has received an extension to complete the payment for Granitos de Badajoz (“Grabasa”) until March 8, 2017 from the Spanish Court in Badajoz.

“We have been working diligently with a European based funding group and they are in the final stages of completing the necessary documentation,” states Michael Dehn, President and CEO of Fairmont Resources. “While there can be no guarantee of success until this process is completed, this short extension was required to secure the Grabasa assets while finalizing the required logistics and paperwork for financing.”

Upon receipt of clearance documentation Fairmont will provide an update to all stakeholders, expected to be in less than a week, on the status of funding for Grabasa.

About Fairmont Resources Inc.

Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.

Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.

On behalf of the Board of Directors,

Michael A. Dehn, President and CEO, Fairmont Resources Inc.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Michael A. Dehn
President and CEO, Fairmont Resources Inc.
647-477-2382
michael@fairmontresources.ca
www.fairmontresources.ca

Doren Quinton
President QIS Capital
250-377-1182
info@smallcaps.ca
www.smallcaps.ca

 

Chile’s SQM sees 8-10% growth in lithium demand this year $NAM.ca $DGO.ca $BFF.ca $SX.ca $FMR.ca

Posted by AGORACOM-JC at 11:22 AM on Wednesday, February 22nd, 2017
  • “The prices in the lithium market and the growth in demand have been quite relevant in recent years. We expect growth in demand for this product of between 8 and 10 percent,” Illanes said.

Feb 19 Chile’s SQM expects demand for lithium to grow between 8 percent and 10 percent this year and is working to improve financial performance by 2020, an executive told local paper El Mercurio on Sunday.

SQM, one of the world’s biggest producers of lithium and iodine, has been trying to consolidate its position with investments abroad.

In 2020 SQM expects annual earnings before interest, taxes, depreciation and amortization (EBITDA) of $1 billion. Currently quarterly EBITDA is less than $200 million, Gerardo Illanes, vice president of finances, told the newspaper.

“The prices in the lithium market and the growth in demand have been quite relevant in recent years. We expect growth in demand for this product of between 8 and 10 percent,” Illanes said.

SQM plans to invest $100 million to increase its production capacity this year, which combined with its capital injection in Argentina would lead to a total investment of around $300 million, he said.

Illanes said SQM would not have a problem financing its projects although he did not rule out tapping debt markets. (Reporting by Fabián Andrés Cambero; Writing by Caroline Stauffer; Editing by Jeffrey Benkoe)

Source: http://www.reuters.com/article/sqm-demand-idUSL1N1G407H

Lithium: The Fuel of the Green Revolution $DGO.ca $FMR.ca $SX.ca $BFF.ca $NAM.ca

Posted by AGORACOM-JC at 4:26 PM on Wednesday, February 15th, 2017

Fairmont Resources Closes Final Tranche of Financing $FMR.ca

Posted by AGORACOM-JC at 3:35 PM on Monday, January 23rd, 2017

Logo

  • Closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units  at a priceof $0.07 per NFT Unit for gross proceeds of $150,000
  • Fairmont issued a total of 1,425,000 flow-through units

VANCOUVER, BRITISH COLUMBIA–(Jan. 23, 2017) – Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce that is has closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units (the “NFT Units”) at a price of $0.07 per NFT Unit for gross proceeds of $150,000. Under the entire financing, Fairmont issued a total of 1,425,000 flow-through units (the “FT Units”) for gross proceeds of $114,000 and 2,142,857 NFT Units for gross proceeds of $150,000.

Each NFT Unit is comprised of one non-flow-through common share of Fairmont and one common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue.

The NFT securities issued under the financing will be subject to resale restrictions expiring May 22, 2017. The previously closed FT securities (See release of December 30, 2016) are subject to resale restrictions expiring May 1, 2017.

No finder’s fees were paid on this financing.

The proceeds from the NFT private placement will be used for general working capital.

About Fairmont Resources Inc.

Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.

Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have displayed exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.

On behalf of the Board of Directors,

Michael A. Dehn
President and CEO, Fairmont Resources Inc.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE.

Michael A. Dehn
President and CEO
Fairmont Resources Inc.
647-477-2382
michael@fairmontresources.ca
www.fairmontresources.ca

Doren Quinton
President
QIS Capital
250-377-1182
info@smallcaps.ca
www.smallcaps.ca

VANCOUVER, BRITISH COLUMBIA–(Jan. 23, 2017) – Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce that is has closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units (the “NFT Units”) at a price of $0.07 per NFT Unit for gross proceeds of $150,000. Under the entire financing, Fairmont issued a total of 1,425,000 flow-through units (the “FT Units”) for gross proceeds of $114,000 and 2,142,857 NFT Units for gross proceeds of $150,000.

Each NFT Unit is comprised of one non-flow-through common share of Fairmont and one common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue.

The NFT securities issued under the financing will be subject to resale restrictions expiring May 22, 2017. The previously closed FT securities (See release of December 30, 2016) are subject to resale restrictions expiring May 1, 2017.

No finder’s fees were paid on this financing.

The proceeds from the NFT private placement will be used for general working capital.

About Fairmont Resources Inc.

Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.

Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have displayed exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.

On behalf of the Board of Directors,

Michael A. Dehn
President and CEO, Fairmont Resources Inc.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE.

Michael A. Dehn
President and CEO
Fairmont Resources Inc.
647-477-2382
michael@fairmontresources.ca
www.fairmontresources.ca

Doren Quinton
President
QIS Capital
250-377-1182
info@smallcaps.ca
www.smallcaps.ca

Tesla to begin lithium-ion battery production at US megafactory – bodes well for $DGO.ca $BFF.ca $PFN.ca $SX.ca $FMR.ca

Posted by AGORACOM-JC at 10:39 AM on Thursday, January 5th, 2017
Tesla Motors chief executive Elon Musk jumps out of one of his electric vehicles. Picture: NEWZULU.
Image: Tesla Motors chief executive Elon Musk jumps out of one of his electric vehicles. Picture: NEWZULU.

Elon Musk’s Tesla Motors says it has started producing lithium-ion battery cells at its $5 billion factory in Nevada.

The company says it began making high-performance cells in December and production started overnight for cells used in Powerwall energy-storage products.

Tesla plans to start making batteries for its Model 3 sedans later this year.

The massive Gigafactory outside Sparks is coming online in phases, with a goal of full operation in 2018.

Officials say it could almost double the world’s production of lithium-ion batteries, making them more affordable as the company looks beyond the luxury niche market.

The electric carmaker says it has more than 850 full-time employees, plus more than 1700 construction workers.

Nevada has promised Tesla $1.3 billion in state tax incentives based on projections that it’ll employ 6500 people at full production.

Source: https://thewest.com.au/business/startup/tesla-begins-lithium-ion-battery-production-at-us-megafactory-ng-b88347284z

Fairmont Resources Inc. Receives Extension for Grabasa Acquisition $FMR.ca

Posted by AGORACOM-JC at 4:38 PM on Wednesday, December 28th, 2016

Logo

  • Received an extension to complete the payment for Granitos de Badajoz until February 22, 2017 from the Spanish Court in Badajoz
  • “We are optimistic that a financing solution is close at hand for completing the acquisition of Grabasa. With imports increasing 10.9% for worked granite into the United States from Spain in the 3rd Quarter 2016 versus 3rdQuarter 2015 when other countries have seen large decreases, other than China, we see an acceptance of Spanish product into the United States market, and for Grabasa this is a new large target market” states Michael Dehn, President and CEO of Fairmont Resources

VANCOUVER, BRITISH COLUMBIA–(Dec. 28, 2016) – Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce it has received an extension to complete the payment for Granitos de Badajoz (“Grabasa”) until February 22, 2017 from the Spanish Court in Badajoz.

“We are optimistic that a financing solution is close at hand for completing the acquisition of Grabasa. With imports increasing 10.9% for worked granite into the United States from Spain in the 3rd Quarter 2016 versus 3rdQuarter 2015 when other countries have seen large decreases, other than China, we see an acceptance of Spanish product into the United States market, and for Grabasa this is a new large target market” states Michael Dehn, President and CEO of Fairmont Resources.

The U.S. imports of Worked Granite (sawn, one-side polished), a key product produced at Grabasa when last in operation, have generally fallen for most producing nations other that Spain where there was a 10.9% increase, and China where there was a 0.3% increase.

WORKED GRANITE: U.S. IMPORTS
(metric tons)
3Q 2016 3Q 2015 Change
TOTAL 420,616 526,118 -20.1%
Top Sources
Brazil 201,838 250,122 -19.3%
China 100,419 100,168 0.3%
India 64,084 76,819 -16.6%
Spain 17,954 16,191 10.9%
Italy 12,560 28,019 -55.2%
Canada 10,340 46,439 -77.7%
Source: U.S. International Trade Commission, Stone Update analysis

(From: December 26, 2016, stoneupdate.com)

About Fairmont Resources Inc.

Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.

Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have displayed exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.

On behalf of the Board of Directors,

Michael A. Dehn
President and CEO, Fairmont Resources Inc.
Tel:647-477-2382
michael@fairmontresources.ca
http://www.fairmontresources.ca/

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Doren Quinton
President QIS Capital
250-377-1182
info@smallcaps.ca
www.smallcaps.ca

Fairmont Resources Inc. (TSX-V: FMR) Announces Proposed Private Placement Financing of Flow-Through and Non-Flow-Through Units $FMR.ca

Posted by AGORACOM-JC at 11:45 AM on Thursday, December 22nd, 2016

Logo

  • Proposed non-brokered private placement financing of up to 2,142,857 units at a price of $0.07 per NFT Unit
  • Gross proceeds of up to $150,000 and a minimum of 1,250,000 and maximum of 1,875,000 units at a price of $0.08 per FT Unit for gross proceeds of up to $150,000

VANCOUVER, BRITISH COLUMBIA–(Dec. 22, 2016) – Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce a proposed non-brokered private placement financing of up to 2,142,857 units (the “NFT Units”) at a price of $0.07 per NFT Unit for gross proceeds of up to $150,000 and a minimum of 1,250,000 and maximum of 1,875,000 units (the “FT Units”) at a price of $0.08 per FT Unit for gross proceeds of up to $150,000.

Each NFT Unit will be comprised of one common share of Fairmont and one common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue. Each FT Unit will be comprised of one flow-through common share of Fairmont (of which $0.072 of each flow-through common shares will be committed to qualifying expenditures) and one common share purchase warrant (a “FT Warrant”), with each FT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue.

Subject to TSX Venture Exchange approval, Fairmont may pay a finder’s a fee in cash and/or warrants. The finder’s warrants will be on the same terms as the Warrants under the private placement.

Closing of the private placement is subject to TSX Venture Exchange approval.

The proceeds from the private placement will be used for work on Fairmont’s properties and general working capital purposes.

About Fairmont Resources Inc.

Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.

Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.

On behalf of the Board of Directors,

Michael A. Dehn, President and CEO, Fairmont Resources Inc.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Michael A. Dehn
President and CEO, Fairmont Resources Inc.
647-477-2382
michael@fairmontresources.ca
www.fairmontresources.ca

Doren Quinton,
President QIS Capital
250-377-1182
info@smallcaps.ca
www.smallcaps.ca