MONTREAL, June 28, 2019 (GLOBE NEWSWIRE) -- Falco Resources Ltd (“Falco” or the “Company”) (FPC.V) announces that the Board of Directors approved the grant of incentive stock options to directors, officers and key employees to purchase up to an aggregate of 7,369,000 common shares in the capital stock of the Company. Grants are subject to a three-year vesting period and a five-year term at an exercise price of $0.30 per share, representing a $0.04 (15.38%) premium over the closing price of the common shares of the Company listed on the TSX Venture Exchange on June 26, 2019.
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 about 67,000 hectares of land in the Rouyn-Noranda mining camp, which represents approximately 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 from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Gold Royalties Ltd is the largest shareholder of the Corporation and currently owns 19.9% of the issued and outstanding shares of the Corporation. The Corporation has 207,878,736 shares issued and outstanding.
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