Ms. Deanna Kress reports
FALCO CLOSES C$10 MILLION EQUITY FINANCING
Falco Resources Ltd. has closed its previously announced brokered private placement of flow-through shares and common shares. Pursuant to the private placement, Falco has sold 6,555,600 common shares at a price of 45 cents per common share and 13,557,716 flow-through shares at a price of 52 cents per flow-through share for aggregate gross proceeds of approximately $10-million. The private placement was conducted by a syndicate of agents led by Scotia Capital Inc., and including Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Pope & Company Ltd., Euro Pacific Canada Inc. and Axemen Resource Capital.
Net proceeds from the private placement will be used to advance Falco's Horne project and for further exploration at Falco's Rouyn-Noranda properties, as well as for general working capital purposes. Proceeds raised from the sale of flow-through shares will be used by Falco to finance qualified Canadian exploration expenditures on its Canadian resource properties.
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