Goldera Raises $5.5M, Starts Trading Aug 5 After Fancamp Spin-Out

Fancamp Exploration Ltd. completed its court-approved spin-out of exploration assets into Goldera Exploration Ltd., a new TSX Venture-listed company. Goldera shares start trading August 5 under the symbol GERA. Fancamp, renamed ERDA Resource Opportunities Inc., begins trading the same day under ERDA.

The transaction gives Goldera roughly $5.5 million in gross proceeds from a concurrent private placement. That money will fund drilling at the flagship Egan Gold project in Ontario's Abitibi Greenstone Belt and work at the Acadian Gold Corp. joint venture in New Brunswick's gold-copper district.

Fancamp shareholders received one new Fancamp share and one-seventh of a Goldera share for each existing share. Fancamp itself ended up holding about 17.7% of Goldera after conversion of subscription receipts.

Not all Goldera shares are liquid immediately. Half of the shares issued to Fancamp shareholders are locked up. Ten percent comes free January 30, 2027, another 20% on July 30, 2027, and another 20% on January 30, 2028.

The $5.5 Million Financing and Warrant Structure

The private placement raised money through three subscription-receipt tranches: 14.4 million non-flow-through units at $0.20 each, 5.7 million flow-through units at $0.23, and 5 million charity flow-through units at $0.26. Each subscription receipt converted into one share and one warrant, except the flow-through warrants are also flow-through for Canadian tax purposes.