MONTREAL, Dec. 1, 2017 /CNW/ – Falco Resources Ltd. (“Falco” or the “Company”) (TSX VENTURE: FPC) is pleased to announce that, due to increased demand, it has entered into an amending agreement with a syndicate of agents led by Canaccord Genuity Corp. and including Desjardins Securities Inc. and Raymond James Ltd. (collectively the “Agents”) to complete a private placement financing (the “Offering”), on a best efforts basis, of up to 6,780,000 flow-through common shares (“Flow-Through Shares”) of the Company at an issue price of C$1.18 per Flow-Through Share for proceeds of up to approximately C$8 million.
The proceeds from the issuance of Flow-Through Shares will be used for Canadian Exploration Expenses (CEE), and will qualify as “flow-through mining expenditures” under the Income Tax Act (Canada), and also qualify for the two 10% enhancements under the Taxation Act (Quebec), which will be renounced to the subscribers with an effective date no later than December 31, 2017 to the initial purchasers of Flow-Through Shares in an aggregate amount not less than the proceeds raised from the issue of the Flow-Through Shares.
The Flow-Through Shares will be offered and sold by way of private placement exemptions in all provinces and territories of Canada.
About Falco
www.sedar.com. Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
For further information:
Chief Financial Officer
info@falcores.com