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  • Writer's pictureJeffrey White

Falco Completes Financing Round for a Total of $17,280,000

Good news for Falco! Yesterday the Company announced that is has closed its private placement of units with Investissement Québec, acting as agent for the Government of Québec.

Falco issued 12,500,000 units at $0.40 per unit for gross proceeds of C$5,000,000 -- the same terms and conditions as those entered into by the other investors in August 2021. This is the final tranche of the private placement for a total financing of C$17,280,000.

Recall that Falco announced in August that it had received an advance payment of C$10mm from Osisko Gold Royalties - half of the C$20mm second milestone instalment payable by Osisko under its silver stream agreement with Falco due on the signing of Principal Operating Agreement with partner Glencore. .

The proceeds from the financing and the stream advance payment (approx. $27mm) will be used for engineering work, the preparation of technical and environmental studies and for general business purposes. This critical work, as well as the required authorizations currently being sought, represent the final steps required prior to commencing the construction of the Horne 5 Project!

Please contact me for more information.

R. Jeffrey White

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