- Falco Resources (FPC) has closed the final tranche of its private placement for aggregate proceeds of $17,280,000
- In the final tranche, Falco issued 12,500,000 units at a price of $0.40 per unit for gross proceeds of $5,000,000
- The net proceeds from the offering will be used for engineering work, the preparation of technical and environmental studies relating to the Horne 5 Project
- 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$0.28 per share
Falco Resources (FPC) has closed the final tranche of its private placement for aggregate proceeds of $17,280,000.
In the final tranche, Falco issued 12,500,000 units at a price of $0.40 per unit for gross proceeds of $5,000,000.
Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant is exercisable to acquire one common share at an exercise price of $0.55 until July 31, 2025.
The expiry date of the warrants may be accelerated at any time following the six-month anniversary of the closing date under certain conditions.
The net proceeds from the offering will be used for engineering work, the preparation of technical and environmental studies relating to the Horne 5 Project and for general business purposes.
All common shares and warrants issued are subject to a four-month hold period.
Luc Lessard, President and Chief Executive Officer of Falco commented on the financing.
“We are delighted to conclude this last tranche, which brings the financing to a total of $17,280,000, and which will allow us to continue our operations in preparation for the next fundamental steps in the development of our project. We are grateful for our shareholders’ strong participation in this offering.”
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$0.28 per share.