Proceeds will further activity within Rouyn-Noranda Project in Quebec
By Toni Weeks
San Luis Obispo, Calif., Oct. 21 - Falco Pacific Resource Group Inc. said it has arranged a C$5 million non-brokered private placement of units and flow-through stock.
The company will sell units of one common share and one half-share warrant at C$0.30 per unit and up to C$1.5 million of flow-through common shares at C$0.36 apiece.
Each whole warrant will be exercisable at C$0.60 for two years.
The strike price is a 62.16% premium to C$0.37, the Oct. 18 closing share price. The per-share price for the flow-through stock is a 2.7% discount to the Oct. 18 closing share price.
Closing is expected by Nov. 5.
Axemen Resource Capital Ltd. will be paid a finder's fee.
Proceeds will be used to further activity within the Rouyn-Noranda Project in Quebec and for general working capital and other corporate purposes.
The gold and base metals explorer is based in Vancouver, B.C.
| Issuer: | Falco Pacific Resource Group Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through shares
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| Amount: | C$5 million
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| Agent: | Non-brokered
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| Pricing date: | Oct. 21
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| Settlement date: | Nov. 5
|
| Stock symbol: | TSX Venture: FPC
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| Stock price: | C$0.37 at close Oct. 18
|
| Market capitalization: | C$19.73 million
|
|
|
| Units
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.60
|
|
|
| Stock
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| Amount: | Up to C$1.5 million
|
| Price: | C$0.36
|
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