Hub On AGORACOM / Corporate Profile / Watch Interview
Fairmont Encouraged by Chinese Asset Purchase of Former Lithium Producer rb Energy Adjacent to Rome Lithium Property
Vancouver, BC – Fairmont Resources Inc. (FMR: TSX-V) (“Fairmontâ€) is encouraged by the Court Approval yesterday of the Asset Purchase Agreement of RB Energy Inc. by Jilin Jien Nickel Industry Co. (“Jilinâ€).
RB Energy, who once claimed its Quebec mine would produce “the highest-quality lithium carbonate in the worldâ€, was forced to halt operations in October 2014 after failing to complete a much needed financing. Subsequent attempts to raise financing proved to be very difficult due to market conditions at the time for Canadian resource companies. Specifically, Investment Quebec and/or KSV Advisory held discussions with 26 parties regarding the potential sale of RB Energy.
Jilin acquired the Quebec Lithium Mine for an undisclosed amount but it is estimated that approximately $150 – $200 Million in additional capital will be required to take the Lithium project to its production stage.
Michael Dehn, President and CEO Of Fairmont Resources, stated the following regarding the significance of this deal for both the Lithium industry and Fairmont’s Rome Lithium Property “Fairmont is very encouraged by the acquisition of the past producing Quebec Lithium Mine and Mill by Jilin Jien Nickel, as it provides third party validation of Fairmont’s decision last month to option of the Rome Lithium Property, which borders the property acquired by Jilin Jien. Rome added shareholder value at the time of its option and we believe this acquisition of the bordering property will add further near and long term valueâ€.
PROXIMITY OF RB ENERGY MINE TO FAIRMONT’S ROME LITHIUM PROPERTY
The Rome Lithium property is located approximately 60 km north of Val d’Or Quebec. The property is contiguous to the north and south of RB Energy’s Quebec Lithium Mine with a published measured and indicated resources (at a 0.60% Li2O cutoff) of 41,556,000 tonnes at 1.09% Li2O, and an inferred resource of (at a 0.60% Li20 cutoff) of 17,766,000 million tonnes at 1.10% Li2O (RB Energy Press Release of October 11, 2012).
The property is also contiguous to Jourdan Resources Vallee Lithium property that drilled more than 4000m of core in 2011 and intersected more 100 pegmatite and aplite dikes. Jourdan Resources intersected values of up to 1.187% Li2O over 5.50m (Jourdan Resources Press Release of October 24, 2012).
For additional information on the Rome Lithium Property, please see the press release dated May 26, 2016 on Fairmont Resources website, or via the link: http://fairmontresources.ca/uploads/270.pdf
A map and photos of the Rome Lithium Property can be found here: http://fairmontresources.ca/pdf/Rome%20Lithium%20Property.pdf
Detailed documentation on the RB Energy transaction are available at:
http://www.rb-e.com/s/Home.asp
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00007891
http://goo.gl/RE8s31 : First Report of the Receiver dated June 13, 2016
http://goo.gl/2ljb7h : Approval Assignment and Vesting Order dated June 21, 2016
About Fairmont
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.
For more information please contact
Michael A. Dehn
President and CEO, Fairmont Resources Inc.
Tel:647-477-2382
www.fairmontresources.ca
Doren Quinton,
President QIS Capital
Tel:250-377-1182
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 exploration program of its mineral properties and Fairmont’s limited operating history. 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. 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.
LAST: $0.21 UP: $0.05
Percentage: +31% Volume: 1.6M Shares
VANCOUVER, BRITISH COLUMBIA–(June 8, 2016) – Fairmont Resources Inc. (TSX VENTURE:FMR) (“Fairmont”) is pleased to announce it has closed its previously announced private placement (the “Private Placement”) by issuing 8 million units (the “Units”) at a price of $0.06 per Unit for gross proceeds of $480,000. Each Unit consists of one common share (a “Share”) and one half Share purchase warrant (a “Warrant”), with each full Warrant will entitle the holder to purchase one Share for a period of 12 months at an exercise price of $0.10 per Share (the “Warrant Term”).
Fairmont may accelerate the Warrant Term for the outstanding but unexercised Warrants such that the Warrant Term shall expire at 5:00PM Pacific Time on the day that is 30 calendar days after the date that Fairmont first issues the Acceleration Notice. In order to exercise the acceleration rights, (i) the average closing price must have been equal to or greater than $0.20 (subject to adjustment for forward or reverse stock splits, recapitalizations, stock dividends or other changes to Fairmont’s corporate or capital structure) for 10 consecutive Trading Days (the “10 Day Period”) prior to the date that Fairmont exercises the acceleration rights; and (ii) Fairmont must issue a news release announcing its intention to exercise the acceleration rights (the “Acceleration Notice”) within 5 business days after the end of the particular 10 Day Period relied upon by Fairmont in (i).
The securities issued under the Private Placement will be subject to a hold period expiring on October 9, 2016.
Due to strong investor demand, the Company was able to close its Private Placement quickly with 39 placees.
Under the Private Placement, Fairmont paid finder’s fees totaling $18,144 and issued 302,400 share purchase warrants. The finder’s share purchase warrants are on the same terms as the Warrants.
Proceeds of the private placement financing will be used for exploration work on Fairmont’s mineral properties, acquisitions and general working capital purposes.
About Fairmont
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.
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 exploration program of its mineral properties and Fairmont’s limited operating history. 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. 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
[email protected]
www.fairmontresources.ca
Doren Quinton
President
QIS Capital
250-377-1182
[email protected]
www.smallcaps.ca
TRADING ALERT!!!
Up 100% in Two Trading Days
LAST: $0.16 Volume: 2.5M Shares
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GRABASA
Hub On AGORACOM / Corporate Profile
VANCOUVER, BRITISH COLUMBIA–(May 30, 2016) – Fairmont Resources Inc. (TSX VENTURE:FMR) (“Fairmont”) is pleased to announce a private placement (the “Private Placement”) of 8 million units (the “Units”). Each Unit consists of one common share (a “Share”) and one half Share purchase warrant (a “Warrant”) at a price of $0.06 per Unit. Each full Warrant will entitle the holder to purchase one Share for a period of 12 months at an exercise price of $0.10 per Share (the “Warrant Term”).
Fairmont may accelerate the Warrant Term for the outstanding but unexercised Warrants such that the Warrant Term shall expire at 5:00PM Pacific Time on the day that is 30 calendar days after the date that Fairmont first issues the Acceleration Notice. In order to exercise the acceleration rights, (i) the average closing price must have been equal to or greater than $0.20 (subject to adjustment for forward or reverse stock splits, recapitalizations, stock dividends or other changes to Fairmont’s corporate or capital structure) for 15 consecutive Trading Days (the “15 Day Period”) prior to the date that Fairmont exercises the acceleration rights; and (ii) Fairmont must issue a news release announcing its intention to exercise the acceleration rights (the “Acceleration Notice”) within 10 business days after the end of the particular 15 Day Period relied upon by Fairmont in (i).
A finder’s fee will be payable on the private placement, subject to the policies of the TSX Venture Exchange.
Proceeds of the private placement financing will be used for exploration work on Fairmont’s mineral properties, acquisitions and general working capital purposes.
About Fairmont
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.
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 exploration program of its mineral properties and Fairmont’s limited operating history. 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.
Michael A. Dehn
President and CEO
647-477-2382
[email protected]
www.fairmontresources.ca
QIS Capital
Doren Quinton
President
250-377-1182
[email protected]
www.smallcaps.ca
Demand has been increasing in recent years and is currently strong in Europe, Asia, and North America for Granite and industrial minerals.
GRABASA
TORONTO, ONTARIO–(May 20, 2016) – Douglas Eickmeier, a shareholder of Fairmont Resources Inc. (TSX VENTURE:FMR) (the “Company”), announces that he owns, directly and indirectly, 2,537,500 common shares of the Company, representing 11.18% of the issued and outstanding common shares of the Company.
From April 25, 2016 to May 6, 2016, Mr. Eickmeier acquired, directly and indirectly, a total of 382,000 common shares of the Company at a total cost of $30,815.00 through on-market purchases on the TSX Venture Exchange. Immediately prior to the completion of the transactions, Mr. Eickmeier owned 2,255,500 common shares of the Company, representing 9.94% of the issued and outstanding common shares of the Company. Immediately after completion of the transactions, Mr. Eickmeier owned 2,537,500 common shares of the Company, representing 11.18% of the issued and outstanding common shares of the Company.
The acquisition by Mr. Eickmeier of the common shares of the Company was made for investment purposes. Mr. Eickmeier may increase or reduce its investment in the Company according to market conditions or other relevant factors.
For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws, please see the Company’s profile on the SEDAR website www.sedar.com.
For further information and to obtain a copy of the early warning report, please contact the below.
Douglas Eickmeier
21 Mason Boulevard
Toronto, ON, M5M 3C6
Tel: (416) 488-2023