Falco Resources - President and CEO, Luc Lessard (centre right).
President and CEO, Luc Lessard (centre right).
Source: Falco Resources
  • Falco Resources (FPC) has increased its previously announced bought-deal private placement from C$10 to $12.28 million
  • Falco will use the proceeds for the development of the Horne 5 Project and for general corporate purposes
  • The company expects the upsized offering to close on or about August 18, 2021
  • Falco Resources is one of the largest mineral claim holders in Québec
  • Falco Resources (FPC) is down by 1.25 per cent and is currently trading at $0.395 per share

Falco Resources (FPC) has increased its previously announced bought-deal private placement from C$10 to $12.28 million.

Pursuant to the upsized deal terms, and taking into account the fully exercised over-allotment option, the underwriters have agreed to purchase an additional 1,950,000 units for a total of 30,700,000 units at $0.40 per unit for aggregate gross proceeds of $12,280,000.

Each unit consists of one Falco common share and one-half of one common share purchase warrant.

Each warrant is exercisable to acquire one common share for $0.55 until July 31, 2025.

Falco will use the proceeds for the development of the Horne 5 Project and for general corporate purposes.

The company expects the upsized offering to close on or about August 18, 2021.

Falco Resources is one of the largest mineral claim holders in Québec.

Falco Resources (FPC) is down by 1.25 per cent and is currently trading at $0.395 per share as of 1:25 pm ET.

More From The Market Online

Nine Mile Metals completes acquisition of 3 properties

Nine Mile Metals (CSE:NINE) completes the exercise and acquisition of its 100 per cent interest in three properties in New Brunswick.

Canopy Growth fuels turnaround story with fresh capital

Canopy Growth (TSX:WEED) continues its turnaround story with a C$96.3 million exchange and subscription deal with an institutional investor.

Junior gold CEO signals conviction with new investment

Cynthia Le Sueur-Aquin, CEO of junior gold stock Laurion Mineral Exploration (TSXV:LME), will exercise 750,000 stock options for C$142,500.

Three stocks with multi-bagger potential

The best investors stick to stocks with the most easily discernible reasons in support of their multi-bagger potential.