Osisko Development Acquires Stake in Falco Resources
Osisko Development Corp. has announced the acquisition of Falco Resources Ltd. shares through a private placement. The company confirmed the transaction was made indirectly via its wholly-owned subsidiary.
Montreal – Osisko Development Corp. has disclosed its acquisition of shares in Falco Resources Ltd. through a private placement valued at C$2,000,000. The transaction saw the company's wholly-owned subsidiary, Barkerville Gold Mines Ltd. (BGM), purchase 6,250,000 units of Falco at C$0.32 per unit.
Each unit comprised one common share of Falco and one-half of a common share purchase warrant. Following the offering, Osisko Development now indirectly owns or controls 54,925,240 common shares and 4,915,000 warrants. This represents approximately 15.9% of Falco's issued and outstanding shares on a non-diluted basis and 17.1% on a partially diluted basis.
Osisko Development stated it will file an early warning report concerning its stake in Falco with Canadian securities regulators. The company indicated the securities were acquired for investment purposes and that it may acquire or dispose of additional Falco securities in the future, depending on market conditions and other factors.
Osisko Development is focused on becoming an intermediate gold producer. Its strategy centers on developing gold projects in historically significant mining districts across North America, with its flagship project being the Cariboo Gold Project in British Columbia, Canada, alongside the Tintic Project in Utah, USA, and the San Antonio Gold Project in Mexico.