|Bid||0.2850 x 0|
|Ask||0.2950 x 0|
|Day's Range||0.2850 - 0.2950|
|52 Week Range||0.1700 - 0.3600|
|Beta (5Y Monthly)||1.78|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Under the terms of the Arrangement, each former shareholder of Golden Queen is entitled to receive 1.35 of a common share of Falco (each whole share, a "Falco Share") in exchange for each common share of Golden Queen (each whole share, a "Golden Queen Share") held immediately prior to the effective time of the Arrangement. Luc Lessard, President and Chief Executive Officer of Falco, stated: “We are very pleased to close this transaction with Golden Queen providing Falco with access to approximately $4.2 million in cash resources.”
Assuming that the remaining closing conditions are satisfied or waived, it is anticipated that closing of the Arrangement will occur on March 27, 2020. On closing of the Arrangement, Golden Queen shareholders will receive 1.35 Falco shares for each Golden Queen share held.
The Transaction was approved by 99.64% of the votes cast by Golden Queen shareholders, with shareholders holding 6,033,912 shares or 44.59% of the outstanding shares of the Company present in person or represented by proxy at the Meeting. On closing of the Transaction, Golden Queen shareholders will receive 1.35 Falco shares for each Golden Queen share held.
Golden Queen’s sole asset is a cash balance estimated at approximately $4.2 million at closing of the transaction. As a consequence of recent extraordinary events, global market conditions and decline in its share price, Falco increases its initial offer to Golden Queen Shareholders and is now proposing an exchange ratio of 1.35 common shares of Falco for each common share of Golden Queen held immediately prior to the effective time of the Arrangement.
VANCOUVER , Feb. 11, 2020 /CNW/ - Trading resumes in: Company: Falco Resources Ltd. TSX-Venture Symbol: FPC (All Issues) Resumption (ET): 14:45 IIROC can make a decision to impose a temporary suspension ...
The Acquisition is expected to be completed by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"). Through this non-cash transaction, Falco is offering a 15% premium on the forecasted net cash balance of Golden Queen at the closing of this transaction, in consideration for the issuance of 15,968,075 common shares of Falco (each whole share, a "Falco Share") to holders of Golden Queen Shares ("Golden Queen Shareholders").
The amendment to the Silver Stream Transaction is considered to be a “related party transaction” under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (“Regulation 61-101”) but is exempted from the requirements to obtain a formal valuation pursuant to section 5.5(b) of Regulation 61-101, as the common shares of Falco (the “Common Shares”) are not listed on any of the specified markets. The transaction is also exempted from the requirement to obtain minority approval pursuant to 5.7(1)f) of Regulation 61-101, as the Silver Stream Transaction (i) is on reasonable commercial terms that are not less advantageous to the Company than if the Silver Stream Transaction was obtained from an arm’s length party, and (ii) is not convertible, directly or indirectly, into equity or voting securities of the Company.
The Senior Loan shall be amended by increasing the principal amount by $5.9 million (the “Increased Principal Amount”) from $10 million to $15.9 million (the “Principal Amount”) and the maturity date will be extended from December 31, 2019 to December 31, 2020. Osisko shall be entitled to withhold and set-off from the Increased Principal Amount a sum of $0.9 million representing the current accounts payable owing to Osisko by the Corporation, so that, on a net basis, Osisko will make an amount of $5.0 million available to Falco for withdrawal.
MONTREAL, Nov. 14, 2019 -- Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) announces that the six (6) nominees listed in the management information circular.
Falco Resources Ltd. (FPC.V) (“Falco” or the “Company”) is pleased to announce that it has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities. In consideration of the services to be provided, the monthly fees incurred by Falco will be a cash consideration of up to $5,000 (plus expenses), starting September 1st, 2019 for a period of six months ending on March 31st, 2020 and monthly thereafter. Renmark Financial Communications does not have any interest, directly or indirectly, in Falco or its securities, or any right or intent to acquire such an interest.
Falco Resources (FPC:TSX-V) (“Falco” or the “Company”) is pleased to provide an update on the development of its Horne 5 project (the “Project”). During the past months, the Company has been working diligently at advancing the Project, focusing mainly on securing the necessary authorizations to proceed, optimizing its construction and operational approach, and reviewing the financial structure to fund the development of the Project. Falco continues to work with various stakeholders to secure the necessary permits and authorizations required to proceed with the development of the Project.
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.