MONTREAL, QC –(Marketwired – December 17, 2015) –
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Falco Resources Ltd. (“Falco” or the “Company”) (TSX VENTURE: FPC) announces that it is arranging a non-brokered private placement of flow-through shares (“FT Shares”) at an issue price of $0.32 per FT Share, to raise aggregate gross proceeds of up to $2,500,000 (the “Offering”). Osisko Gold Royalties Ltd (“Osisko”) will also participate in the Offering.
The net proceeds of the Offering will be used by the Company to advance exploration works at the Horne 5 Project.
Closing of the Offering is anticipated to occur on or about December 23rd, 2015 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The FT Shares issued under the Offering will be subject to a four month hold period which will expire four months plus a day from the date of closing.
Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Quebec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns 74,000 hectares of land in the Rouyn-Noranda mining camp, which represents 70% of the entire camp and includes 13 former gold and base metal mine sites. Falco’s principal property is the Horne Mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. A maiden 43-101 mineral resource estimate for the Horne 5 deposit delineated an initial inferred resource of 2.8 Moz AuEq at 3.41 g/t AuEq (25.3 million tonnes grading 2.64 g/t Au, 0.23% Cu and 0.7% Zn, for 2.2 Moz Au — see March 4, 2014 press release for details).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects’, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include negative market conditions and those risks set out in Falco’s public documents, including in each management discussion and analysis, filed on SEDAR at 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 PLEASE CONTACT:
For further information contact: Vincent Metcalfe Chief Financial Officer firstname.lastname@example.org Source: Falco Resources Ltd