MONTREAL, Feb. 25, 2022 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) announces that the Corporation’s Board of Directors approved a grant of incentive stock options to directors, officers and key employees to purchase up to an aggregate of 3,525,000 common shares of the Corporation. In accordance with the Long Term Incentive Plan of the Corporation, all grants are subject to a three-year vesting period and a five-year term.
Options to key employees were granted at an exercise price of $0.29 per share being the closing price of the common shares of the Corporation listed on the TSX Venture Exchange on February 25, 2022 (the “Closing Price”). Options to Directors and Officers were granted at an exercise price of $0.40 per share, which is consistent with the equity financings completed by the Corporation in August and December 2021. This exercise price represents a $0.11 (38%) premium over the Closing Price.
About Falco
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 a 17.3% interest in the Company.
For further information, please contact:
Luc Lessard
President and Chief Executive Officer
514-261-3336
info@falcores.com
Jeffrey White, LL.B, MBA
Director, Investor Relations
416-274-7762
rjwhite@falcores.com
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.
