Non-brokered deal offers units with half-share warrants at C$0.25 each
By Devika Patel
Knoxville, Tenn., June 11 - Falco Pacific Resource Group Inc. said it increased a non-brokered private placement of units to C$1.7 million from C$1.25 million. The deal priced June 5.
The company will now sell 6.8 million units of one common share and one half-share warrant at C$0.25 per unit.
Each whole warrant will be exercisable at C$0.45 for 18 months. The strike price is a 40.63% premium to C$0.32, the June 4 closing share price.
Settlement is expected June 14.
Proceeds will be used for operating and exploration expenses on the Rouyn-Noranda Project in Quebec.
The gold and base metals explorer is based in Vancouver, B.C.
Issuer: | Falco Pacific Resource Group Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1.7 million
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Units: | 6.8 million
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Price: | C$0.25
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.45
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Agent: | Non-brokered
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Pricing date: | June 5
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Upsized: | June 11
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Settlement date: | June 14
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Stock symbol: | TSX Venture: FPC
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Stock price: | C$0.32 at close June 4
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Market capitalization: | C$13.01 million
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