Non-brokered deal sells units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., July 17 – Falco Resources Ltd. said it will conduct a C$2 million non-brokered private placement of units.
The company will sell 5 million units of one common share and one half-share warrant at C$0.40 per unit, with each whole warrant exercisable at C$0.52 for two years. The strike price is a 36.84% premium to C$0.38, the July 16 closing share price.
Settlement is expected July 22.
Osisko Gold Royalties Ltd. will participate.
Proceeds will be used to advance and complete the Horne 5 PEA to be delivered in 2016 and for general working capital.
The gold and base metals explorer is based in Vancouver, B.C.
| Issuer: | Falco Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 5 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.52
|
| Agent: | Non-brokered
|
| Investor: | Osisko Gold Royalties Ltd.
|
| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Stock symbol: | TSX Venture: FPC
|
| Stock price: | C$0.38 at close July 16
|
| Market capitalization: | C$33.14 million
|
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