Quebec PE investors invest $10.8M in Falco Resources

Ted Liu

Falco Resources Ltd. (TSX-V: FPC) has raised $10.8 million from Ressources Québec inc., managed by Investissement Québec, Capital Croissance PME II, s.e.c. and SIDEX, s.e.c.

Falco issued 10,093,083 units at a price of $1.07 per unit for gross proceeds of $10,799,600. Each unit consists of one common share and one-half of one common share purchase warrant with each whole warrant exercisable for one share at $1.45 per share for a period of 18 months.

Falco Resources intends to use net proceeds to advance the dewatering program related to the development of the Horne 5 Deposit, for regional exploration and for general working capital.

photo credit: Falco Resources