01:22 PM EST, 12/09/2024 (MT Newswires) -- Falco Resources ( FPRGF ) on Monday said it is raising up to $5 million in a private placement of share units.

The company said it is placing an unspecified number of share units in the financing, with each priced a $0.25 and and made up of a share and a five-year warrant to buy a second share for $0.35

The company intends to use the proceeds to advance it Horne 5 Project and for working capital and general corporate purposes.

Falco shares were last seen down $0.015 to $0.275 on the TSX Venture Exchange.

Price: 0.28, Change: -0.02, Percent Change: -5.17