Business
Farallon Completes Initial Closing of Financing
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ VANCOUVER...
About this update from First Atlantic Nickel & Cobalt Corp.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE\nUNITED STATES/\n\n\nVANCOUVER, Feb. 26 /CNW/ - Dick Whittington, President and CEO of\nFarallon Resources Ltd. ("Farallon" or the "Company") (TSX: FAN) announces\nthat the Company has completed an initial closing of $5 million of the\npreviously announced private placement financing arranged by a syndicate led\nby Paradigm Capital Inc., which included Wellington West Capital Markets Inc.\n\n\nFarallon has advanced the G-9 polymetallic (zinc, copper, silver, gold,\nlead) project at its Campo Morado Property in Mexico through a 'Parallel\nTrack' program. Surface facilities were largely completed in mid 2008,\nfollowed by mill commissioning and underground stope development during the\nbalance of 2008. The mine is currently in production and targeting reaching\ndesign capacity of 1500 tpd in February 2009.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\nJ.R.H. (Dick) Whittington\nPresident & CEO\n\n No regulatory authority has approved or disapproved the information\n contained in this news release\n\n Forward Looking Information\n\n\nThis release includes certain statements that may be deemed\n"forward-looking statements." All statements in this release, other than\nstatements of historical facts, that address future production, reserve or\nresource potential, continuity of mineralization, exploration drilling,\noperational activities, production rates, costs to completion and events or\ndevelopments that the Company expects are forward-looking statements. Although\nthe Company believes that the expectations expressed in such forward looking\nstatements are based on reasonable assumptions, such statements are not\nguarantees of future performance and actual results or developments may differ\nmaterially from those in the forward looking statements and may require\nachievement of a number of operational, technical, economic and legal\nobjectives. The likelihood of continued future mining at Campo Morado is\nsubject to a large number of risks, including obtaining lower than expected\ngrades and quantities of mineralization and resources, lower than expected\nmill recovery rates and mining rates, changes in and the effect of government\npolicies with respect to mineral exploration and exploitation, the possibility\nof local...