Extension of Certain Deadlines Under the Silver Stream Trans MONTREAL, Feb. 11, 2022 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) is pleased to announce that the Corporation and Osisko Gold Royalties Ltd (“Osisko”) have agreed to amend the silver stream agreement entered into by the Parties on February 27, 2019, relating to Falco’s Horne 5 project, whereby Osisko agreed to postpone by one year each of the deadlines granted to Falco to achieve milestones set as condition precedent to Osisko funding the stream deposit.
The independent directors of the Corporation have approved the extension of such deadlines under the silver stream agreement, and the board members who are nominees or officers of Osisko abstained from voting on the resolutions to approve such transactions.
About Falco
Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Qubec, 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.
Falco Resources
https://www.globenewswire.com/en/news-release/2022/02/11/2383928/0/en/Falco-Announces-Extension-of-Certain-Deadlines-Under-the-Silver-Stream-Transaction.html