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Falco Resources Provides Further Update on Non-Brokered Private Placement
MONTREAL, Oct. 29, 2021 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX-V: FPC) (“Falco” or the “Company”) reports that it has been granted an extension by the TS
About this update from Falco Resources Ltd.
[{"type":"text","content":" MONTREAL, Oct. 29, 2021 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX-V: FPC) (“Falco” or the “Company”) reports that it has been granted an extension by the TSX Venture Exchange of the outside date by which it must complete its previously announced proposed $5 million non-brokered private placement with one of its shareholders (the “Private Placement”) upon the terms previously announced. Such extension provides that the Private Placement must close by no later than November 28, 2021. The Company expects that its shareholder will obtain all required approvals within this period, which will enable the Private Placement to be completed in this timeframe. About Falco Resources Ltd. 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 Rouyn-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 in the former Horne mine that was operated by Noranda (now Glencore Canada Corporation) from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Gold Royalties Ltd.’s subsidiary, Osisko Development Corp. is Falco’s largest shareholder owning an 18.1% interest in the Company. For further information, please contact: Luc LessardPresident and Chief Executive [email protected] Jeffrey White, LL.B, MBADirector, Investor [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, may be 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 action...