Falco Completes Acquisition of Golden Queen Mining Consolidated
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FALCO COMPLETES ACQUISITION OF GOLDEN QUEEN MINING CONSOLIDATED
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
MONTRÉAL, Québec (March 27, 2020) – Falco Resources Ltd. (TSX -V: FPC) (" Falco") and Golden
Queen Mining Consolidated Ltd. (NEX: GQM.H, OTCQB: GQMND) (" Golden Queen ") are pleased to
announce the successful completion of their previously announced arrangement, pursuant to which
Falco has acquired all of the issued and outstanding common shares of Golden Queen, which was
completed by way of a statutory plan of arrangement under the provisions of the Business
Corporations Act (British Columbia) (the "Arrangement").
Under the terms of the Arrangement, each former shareholder of Golden Queen is entitled to receive
1.35 of a common share of Falco (each whole share, a "Falco Share") in exchange for each common
share of Golden Queen (each whole share, a " Golden Queen Share") held immediately prior to the
effective time of the Arrangement.
Luc Lessard, President and Chief Executive Officer of Falco, stated: “We are very pleased to close
this transaction with Golden Queen providing Falco with access to approximately $4.2 million in cash
resources.”
In order to receive the consideration in exchange for their Golden Queen Shares, registered
shareholders of Golden Queen must complete, sign, date and return the Letter of Transmittal that
was mailed to each registered shareholder of Golden Queen. The Letter of Transmittal is also
available from the depositary, TSX Trust Company, that can be contacted by telephone at: 1 (866)
600-5869 (North American Toll Free) / 1 ( 416) 342 -1091 (Overseas) or by e -mail
at: [email protected].
With the Arrangement now complete, Falco intends to cause the Golden Queen Shares to be delisted
from the NEX Board (expected on or about March 31, 2020), and Golden Queen intends to submit an
application to the applicable securities regulators to cease to be a reporting issuer and to terminate
its public reporting obligations.
Additional inform ation regarding the terms of the Arrangement are set out in the management
information circular of Golden Queen dated February 20, 2020 which is available under Golden
Queen’s profile at www.sedar.com.
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 about approximately 67,000
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 from 1927 to 1976 and produced
11.6 million ounces of gold and 2.5 bi llion pounds of copper. Osisko Gold Royalties Ltd is the largest
shareholder of the Corporation and currently owns 18.3% of the issued and outstanding shares of the
Corporation. The Corporation has 226,147,296 shares issued and outstanding.
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For further information, please contact:
Luc Lessard
President and Chief Executive Officer
514-261-3336
Amélie Laliberté
Coordinator, Investor Relations
418-455-4775
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
news release. No stock exchange, securities commission or other regulatory authority has approved
or disapproved of the information contained herein.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward -looking statements and forward-looking information (together,
“forward-looking statements”) within the meaning of applicable securities laws. All statements,
other than statements of historical facts, are forward -looking statements, and subject to risks and
uncertainties. Generally, forward-looking statements can be identified by the use of terminology
such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”,
“might”, “likely” or variations of such words, or statements that certain actions, events or results
“may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar
expressions. Forward -looking statements are subject to business and economic factors and
uncertainties, and other factors that could cause actual results to differ materially from these
forward-looking statements, including those risks and uncertainties set out in Falco’s public
documents, including in its most recent management discussion and analysis and annual information
form filed on SEDAR at www.sedar.com, and set out in Golden Queen’s public documents, including
its most recent m anagement discussion and analysis and annual report filed on SEDAR
at www.sedar.com. Furthermore, should one or more of the risks, uncertainties or other factors
materialize, or should underlying assumptions prove incorrect, actual results may vary materially
from those described in forward -looking statements or information. These risks, uncertaintie s and
other factors include, among others, political, economic, environmental and permitting risks,
regulatory restrictions, mining operational and development risks, litigation risks, regulatory
restrictions, environmental and permitting restrictions and liabilities, and internal and external
approval risks. Although Falco and Golden Queen believe that the assumptions and factors used in
preparing the forward -looking statements are reasonable, undue reliance should not be placed on
these statements, which only apply as of the date of this news release, and no assurance can be
given that such events will occur in the disclosed times frames or at all. Except where required by
applicable law, Falco and Golden Queen disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise.