Business
Falco to Raise up to C$4 Million in Flow-Through Financing
Falco to Raise up to C$4 Million in Flow-Through Financing Canada NewsWire MONTR...
About this update from Falco Resources Ltd.
[{"type":"text","content":"\n\n\n\nFalco to Raise up to C$4 Million in Flow-Through Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Dec. 1, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./\n\nStock Symbol: FPC: TSXV\n\n\n\nMONTREAL, Dec. 1, 2017 /CNW/ - Falco Resources Ltd. (\"Falco\" or the \"Company\") (TSX VENTURE: FPC) is pleased to announce that it has entered into an agreement with a syndicate of agents led by Canaccord Genuity Corp. and including Desjardins Securities Inc. and Raymond James Ltd. (collectively the \"Agents\") to complete a private placement financing (the \"Offering\"), on a best efforts basis, of up to 3,389,900 flow-through common shares (\"Flow-Through Shares\") of the Company at an issue price of C$1.18 per Flow-Through Share for proceeds of up to approximately C$4 million. \n\nThe Agents will have the option, but not the obligation, exercisable in whole or in part at any time up to 48 hours prior to the closing of the Offering, to increase the size of the Offering by up to an additional 1,694,950 in Flow-Through Shares at the Flow-Through Share issue price. \n\nThe proceeds from the issuance of Flow-Through Shares will be used for Canadian Exploration Expenses (CEE), and will qualify as \"flow-through mining expenditures\" under the Income Tax Act (Canada), and also qualify for the two 10% enhancements under the Taxation Act (Quebec), which will be renounced to the subscribers with an effective date no later than December 31, 2017 to the initial purchasers of Flow-Through Shares in an aggregate amount not less than the proceeds raised from the issue of the Flow-Through Shares.\n\nThe proceeds of the Offering will be used by the Company to advance exploration works at the Donalda property and the surrounding Horne 5 Project properties.\n\nThe Flow-Through Shares will be offered and sold by way of private placement exemptions in all provinces and terri...