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Falco Resources Announces Extension of Certain Deadlines Under the Silver Stream Transaction
MONTREAL, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) is pleased to announce that the Corporation and Osi
About this update from Falco Resources Ltd.
[{"type":"text","content":" MONTREAL, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) is pleased to announce that the Corporation and Osisko Gold Royalties Ltd (“Osisko”) have entered into an amendment to the silver stream agreement dated February 27, 2019 relating to Falco’s Horne 5 Project. The amendment postpones to January 31, 2025 the deadlines granted to Falco to achieve milestones set as conditions precedent to Osisko funding the second and third instalments of the stream deposit, which instalments would be funded concurrently if such conditions are satisfied. The independent directors of the Corporation have approved such amendments under the silver stream agreement. About Falco Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns approximately 70,000 hectares of land in the Noranda Mining Camp, which represents 70% of the entire camp and includes 13 former gold and base metal mine sites. Falco’s principal asset is the Horne 5 Project located under the former Horne mine that was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco’s largest shareholder owning a 17.3% interest in the Corporation. For further information, please contact: Luc LessardPresident, Chief Executive Officer and [email protected] Jeffrey White, LL.B, MBADirector, Investor Relations [email protected] 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 Statement on Forward-Looking Information This news release contains forward-looking statements and forward-looking information (together, “forward looking statements”) within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts, and including statements relating to the funding of the second and third instalments of the stream deposit, may be forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, ...