Falco continues to impress me with their ability ability to raise money and move the Horne 5 project forward. Even after this recent pull back in stocks Falco announced today that it has raised $36.5 million at above market – just short of $26 million was raised at $1.07 per unit. The remaining amount was in the form of flow-through shares. This is what the company had to say this morning…

This morning, Falco is pleased to announce it has closed its previously announced bought deal prospectus offering for aggregate gross proceeds of approximately $36.5 million including 3,154,350 Units and 447,975 Flow-Through Shares issued pursuant to the partial exercise by the underwriters of the over-allotment option.

The net proceeds of the Offering will be used for the continued exploration and development of the Horne 5 Project, for dewatering and rehabilitation of the Quemont 2 Shaft, pre-construction surface installation, and for working capital and general corporate purposes.

The Company is now very well financed to further advance the Horne 5 project.

Click here to read the full news release.