- Falco issued 30,700,000 units at a price of C$0.40 per unit for gross proceeds of C$12,280,000
- Each unit consists of one common share and one-half of one common share purchase warrant
- The expiry date of the warrants may be accelerated at any time following the six-month anniversary of the closing date
- Net proceeds from the offering will be allocated to the development of the Horne 5 Project
- Falco Resources Ltd. is one of the largest mineral claim holders in Québec
- Falco Resources Ltd. (FPC) opened trading at C$0.39 per share
Falco Resources (FPC) has completed its previously announced private placement of units.
Falco issued 30,700,000 units at a price of C$0.40 per unit for gross proceeds of C$12,280,000.
Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable for one common share until July 31, 2025, at an exercise price of C$0.55.
The expiry date of the warrants may be accelerated by the company at any time following the six-month anniversary of the closing date if the volume-weighted average trading price of the shares on the TSXV is greater than C$0.80 for any 10 consecutive trading days.
Net proceeds from the offering will be allocated to the development of the Horne 5 Project and for general corporate purposes.
The underwriters received an aggregate cash fee equal to 5 per cent of the gross proceeds.
Shares and warrants are subject to a four-month hold period.
Falco Resources Ltd. is one of the largest mineral claim holders in Québec, with extensive landholdings in the Abitibi Greenstone Belt.
Falco Resources Ltd. (FPC) opened trading at C$0.39 per share.
