Falco raises US$916.7K as Osisko exercises warrants early
What's the deal? Falco ResourcesDealroom has a profile for this one. Try Dealroom → has received about US$916.7K from the exercise of warrants, including US$459.4K from the early exercise by Barkerville Gold MinesDealroom has a profile for this one. Try Dealroom →, a wholly owned subsidiary of Osisko DevelopmentDealroom has a profile for this one. Try Dealroom →. Osisko exercised 1.79 million warrants to buy Falco common shares at 35 cents each.
Why now? The warrants stemmed from Falco's December 2024 private placement and were not due to expire until December 2029. Chief executive officer Luc Lessard said the early exercise reflects Osisko Development's "continued support of Falco and the advancement of the Horne 5 project."
What's the endgame? Falco will use the proceeds for its Horne 5 project and for working capital and general corporate purposes. The project sits beneath the former Horne mine in Quebec, which produced 11.6 million ounces of gold and 2.5 billion pounds of copper under Noranda between 1927 and 1976.
Falco is one of the largest mineral claim holders in Quebec, with rights to roughly 63,000 hectares in the Noranda camp — about 63% of the camp — including 13 former mining sites.
The company also collected US$456.5K from warrants tied to its June 2024 private placement, exercised at 35 cents. That included US$45.2K from current directors and officers.
Following the early exercise, Osisko Development's stake in Falco rose from 15.6% to 16.0%, keeping it the company's largest shareholder.
The signal: A backer topping up its stake through early warrant exercises — well ahead of a 2029 deadline — is a quick re-raise that signals confidence in the underlying asset. For a single-project developer like Falco, that vote from its biggest shareholder matters as much as the cash.
Read more: Stockwatch
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