SOURCE: Falco Resources Ltd.
June 28, 2016 08:30 ET
MONTREAL, QC–(Marketwired – June 28, 2016) – Falco Resources Ltd. (TSX VENTURE: FPC) (“Falco” or the “Company”) is pleased to announce that as of June 27th 2016, all outstanding warrants issued as part of the July 22, 2015 private placement completed with strategic Québec Funds and Osisko Gold Royalties Ltd and which expiry date had been accelerated have been all exercised by the holders. The exercise of the warrants enabled the Company to raise gross proceeds $1.2 million.
As of June 27th, 2016 113,937,797 common shares of the Company are outstanding.
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 74,000 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 property is the Horne Mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Gold Royalties is the largest shareholder of the Company and currently owns 16.2% of the outstanding shares of the Company.
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