Falco Pacific settles C$5.11 million private placement of units, stock

Non-brokered deal offers flow-through common shares and equity units

By Devika Patel

Knoxville, Tenn., Nov. 14 - Falco Pacific Resource Group Inc. said it completed a C$5.11 million non-brokered private placement of units. The deal priced for C$5 million Oct. 21.

The company sold 12,045,999 units of one common share and one half-share warrant at C$0.30 per unit and 4,142,770 flow-through common shares at C$0.36 apiece.

Each whole warrant is exercisable at C$0.60 for two years. The strike price and price per share are 160.87% and 56.52% premiums to C$0.23, the Nov. 13 closing share price.

Proceeds will be used for activity at the Rouyn-Noranda camp, 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 common shares
Amount:	C$5,105,197
Agent:	Non-brokered
Pricing date:	Oct. 21
Settlement date:	Nov. 14
Stock symbol:	TSX Venture: DRU.V
Stock price:	C$0.23 at close Nov. 13
Market capitalization:	C$7.87 million
Units
Amount:	C$3,613,800
Units:	12,045,999
Price:	C$0.30
Warrants:	One half-share warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.60
Flow-through shares
Amount:	C$1,491,397
Shares:	4,142,770
Price:	C$0.36
Warrants:	No

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.