Falco Provides Update ON Non-Brokered Private Placement
For Immediate Release TSX.V - FPC
FALCO PROVIDES UPDATE ON NON-BROKERED PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
(Montreal, Québec, September, 28, 2021) – Falco Resources Ltd. (TSX-V: FPC) (“Falco” or the
“Company”) reports that it continues to be in discussions with one of its shareholders in
connection with its previously announced proposed non -brokered private placement (the
“Private Placement”) of up to 12,500,000 units (the “Units”) at a price of C$0.40 per Unit, for
gross proceeds of up to C$5 million. The Company expect s to be able to complete the Private
Placement on or before October 2 8, 2021, subject to the receipt of all necessary approvals,
including the internal approvals required to be obtained by the proposed investor and the
approval of the TSX Venture Exchange.
Each Unit under the Private Placement will consist of one common s hare of the Company (each
a “Common Share”) and one -half of one common share purchase warrant (each full warrant,
a “Warrant”). Each Warrant will be exercisable to acquire one Common Share until July 31, 2025,
at an exercise price of C$0.55.
The expiry date of the Warrants may be accelerated by the Company at any time following
February 18, 2022 if the volume-weighted average trading price of the Common Shares on the
TSX Venture Exchange is greater than C$0.80 for any 10 consecutive trading days, at which time
the Company may accelerate the expiry date by issuing a press release announcing the reduced
warrant term whereupon the Warrants will expire on the 30th calendar day after the date of such
press release.
The net proceeds of the Private Placement will be used for the development of the Horne 5
Project and for general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of the securities in the United States or in any other jurisdiction in which
such offer, solicitation or sale would be unlawful. The securities have not been registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration requirements thereunder.
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 18.2% interest in the Company.
For further information, please contact:
Luc Lessard
President and Chief Executive Officer
514-261-3336
Jeffrey White, LL.B, MBA
Director, Investor Relations
416-274-7762
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 actions, events or results “may”, “could”, “would”, “might”,
“will be taken”, “occur” or “be achieved”, the negative of these terms and similar terminology
although not all forward-looking statement contains these terms and phrases. Without limiting
the generality of the foregoing statements , the Company meeting all conditions for a timely
closing of the Private Placement, including obtaining all required approvals, and the proposed
use of the proceeds of the Private Placement, are forward looking statements. Forward-looking
statements involve risks, uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from those expressed or implied
by such forward-looking statements. These risk and uncertainties include, but are not limited
to, the risk factors set out in Falco’ s annual and/or quarterly management discussion and
analysis and in other of its public disclosure documents filed on SEDAR at www.sedar.com, as
well as all assumptions regarding the foregoing. Although Falco believes 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 time frame or at all.
Except where required by applicable law, Falco disclaims any intention or obligation to update
or revise any forward looking statement, whether as a result of new information, future events
or otherwise.