Offer conducted by lead agent Scotia Capital to fund Horne 5 Project
By Devika Patel
Knoxville, Tenn., Oct. 2 – Falco Resources Ltd. said it plans a C$10 million private placement of stock.
The company will sell 5,555,600 common shares at C$0.45 apiece, which is an 8.16% discount to the Oct. 1 closing share price of C$0.49. It also will sell 14,423,100 flow-through common shares at C$0.52 apiece, a 6.12% premium to the Oct. 1 closing share price.
The deal will be conducted by a syndicate of agents led by Scotia Capital Inc.
Settlement is expected Oct. 22.
Proceeds will be used to advance Falco’s Horne 5 Project, for exploration at its Rouyn-Noranda properties and for general working capital purposes.
The gold and base metals explorer is based in Vancouver, B.C.
| Issuer: | Falco Resources Ltd.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$10 million
|
| Warrants: | No
|
| Agents: | Scotia Capital Inc. (lead)
|
| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 22
|
| Stock symbol: | TSX Venture: FPC
|
| Stock price: | C$0.49 at close Oct. 1
|
| Market capitalization: | C$34.31 million
|
|
|
| Common stock
|
| Amount: | C$2,500,020
|
| Shares: | 5,555,600
|
| Price: | C$0.45
|
|
|
| Flow-through stock
|
| Amount: | C$7,500,012
|
| Shares: | 14,423,100
|
| Price: | C$0.52
|
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