Falco Announces Closing of $36.5 Million Bought Deal Financing

Falco Resources Ltd. (TSXV:FPC) is pleased to announce it has closed its previously announced bought deal prospectus offering (the “Offering”) of 24,183,350 units (the “Units”) at a price of $1.07 per Unit, and 8,260,475 flow-through common shares (the “Flow-Through Shares”) at a price of $1.28 per Flow-Through Share for aggregate gross proceeds of approximately $36.5 million including 3,154,350 Units and 447,975 Flow-Through Shares issued pursuant to the partial exercise by the underwriters of the over-allotment option.
The proceeds received by the Company from the sale of the Flow-Through Shares will be used by the Company to incur sufficient Canadian exploration expenses (as defined in the Income Tax Act (Canada) on the Horne 5 Project, on or before December 31, 2017 so as to enable the Company to renounce, effective on or before December 31, 2016, in favour of each purchaser of Flow-Through Shares, an amount equal to the aggregate purchase price for the Flow-Through Shares paid by such purchaser.
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