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Falco Resources upsizes private placement to C$8M

Falco Resources Ltd. said Dec. 1 that it entered into an amended agreement with a syndicate of agents to increase its previously announced C$4 million financing to about C$8 million.

The company will now issue up to 6,780,000 flow-through common shares at C$1.18 apiece on a best efforts basis.

The agents will have the option to increase the size of the offering by up to an additional 423,730 flow-through shares at the same price, exercisable up to 48 hours prior to the closing.

Falco intends to use the proceeds to advance exploration works at the Donalda property and the surrounding Horne 5 gold-copper project in Quebec.