By Devika Patel
Knoxville, Tenn., Nov. 25 – Falco Resources Ltd. increased its 7% secured senior loan with Osisko Gold Royalties Ltd. to C$15.9 million from C$10 million, according to a press release. The loan was negotiated on Feb. 22.
In addition, the maturity date was extended by one year to Dec. 31, 2020 from Dec. 31, 2019.
Proceeds will be used for the advancement of the Horne 5 Project, reimbursement to Osisko for services rendered and for general corporate purposes.
The gold and base metals explorer is based in Montreal.
| Issuer: | Falco Resources Ltd.
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| Issue: | Secured senior loan
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| Amount: | C$15.9 million
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| Maturity: | Dec. 31, 2020
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| Coupon: | 7%
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| Investor: | Osisko Gold Royalties Ltd.
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| Pricing date: | Feb. 22
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| Amended: | Nov. 25
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| Distribution: | Private placement
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