04:32 PM EDT, 05/09/2025 (MT Newswires) -- Fancamp Exploration ( FNCJF ) Friday said it entered into a settlement agreement with a former director of the corporation to resolve the litigation proceedings.

The suit involved a statement of claim filed by the former director and his controlled entity in the Ontario Superior Court of Justice relating to liquidated damages claimed by the plaintiffs from the corporation in connection with the termination of the consulting agreement between the corporation and an entity controlled by the former director.

Fancamp also commenced a civil claim against the former director in the Supreme Court of British Columbia.

Pursuant to the terms of the agreement, the corporation shall, among other obligations, issue to the former director 1.42-million shares at a deemed price of $0.07 per share as partial consideration for the settlement.