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  • Writer's pictureJeffrey White

Falco Bought Deal Offering and Silver Stream Advance for C$20mm in Aggregate Proceeds

Exciting news for Falco (FPC-V)!


Falco has entered into an agreement with CIBC Capital Markets, as lead underwriter, for a bought deal private placement equity financing.


Falco has also received a commitment from Osisko Gold Royalties for an advance of C$10 million on the milestone installments to be made by Osisko under its silver stream agreement with the Company.


Details of the Offering:

  • Bought deal, private placement of 25,000,000 Units at a price of C$0.40 per Unit representing aggregate gross proceeds to Falco of C$10 million.

  • Each Unit will consist of one common share of the Company and one-half-of-one common share purchase warrant.

  • Each full warrant will be exercisable to acquire one Common Share until July 31, 2025, at an exercise price of C$0.55. The expiry date of the warrants may be accelerated by the Company after 6-months is certain conditions are met.

  • The offering is anticipated to close on or about August 18, 2021.

Certain of the Company’s existing shareholders, including Osisko Development Corp. and la Caisse de dépôt et placement du Québec, have indicated to the Company that they will participate in the Offering.


In addition, the Company is in discussions with one of its shareholders regarding a proposed non-brokered private placement of Units for proceeds of up to C$5 million at no less than the issue price of the offering.


The net proceeds of the offering and the silver stream advance will be used for the development of the Horne 5 Project and for general corporate purposes.


This financing is an important development for Falco as it provides the Company with the necessary resources to meaningfully advance the Horne 5 Project once the Principal Operating Agreement has been finalized.


Please contact me if you would like to learn more.


Jeff


R. Jeffrey White, LL.B., MBA

Director, Investor Relations

Falco Resources

rjwhite@hingemarkets.com


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