Some gold mining gurus still believe that Falco is an investment. Perhaps they bribed the anti mining citizens and reporters with gold rings (precious) :-)
ORIGINAL: Osisko Development Files Early Warning Report Regarding Falco Resources Ltd.
2025-10-27 08:00 ET - News Release
MONTREAL, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") reports that, on October 17, 2025, Osisko Development acquired, indirectly through its wholly-owned subsidiary, Barkerville Gold Mines Ltd. ("BGM"), 6,250,000 units of Falco Resources Ltd. ("Falco") (each, a "Unit") at a price of C$0.32 per Unit for an aggregate purchase price of C$2,000,000, in connection with a "bought deal" private placement of 41,005,000 Units completed by Falco (the "Offering"). Each Unit consisted of one common share of Falco (each, a "Common Share") and one-half of one Common Share purchase warrant of Falco (each whole warrant, a "Warrant").
Immediately prior to the Offering, Osisko Development owned or controlled, indirectly through its wholly-owned subsidiary, BGM, an aggregate of 48,675,240 Common Shares and 1,790,000 Warrants (collectively, the "Prior Warrants"), representing approximately (i) 16.0% of the issued and outstanding Common Shares on a basic non-diluted basis, and (ii) 16.5% of the issued and outstanding Common Shares on a partially diluted basis (assuming, for this purpose, only the exercise in full of the Prior Warrants).
As a result of and immediately following completion of the Offering, Osisko Development owned or controlled, indirectly through its wholly-owned subsidiary, BGM, an aggregate of 54,925,240 Common Shares and 4,915,000 Warrants (collectively, the "Current Warrants"), representing approximately (i) 15.9% of the issued and outstanding Common Shares on a basic non-diluted basis, and (ii) 17.1% of the issued and outstanding Common Shares on a partially diluted basis (assuming, for this purpose, only the exercise in full of the Current Warrants).
An early warning report in respect of Falco will be filed by Osisko Development with applicable Canadian securities regulatory authorities and will be available on SEDAR+ (www.sedarplus.ca) under Falco's issuer profile. To obtain copies of the early warning report filed by Osisko Development, please contact Philip Rabenok by telephone at (437) 423-3644 or by email at ir@osiskodev.com.
The securities were acquired by Osisko Development for investment purposes. Osisko Development and its affiliates or any joint actors may, from time to time and at any time, acquire additional Common Shares and/or other equity, debt or other securities or instruments of Falco (collectively, "Securities") in the open market or otherwise, and reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Falco and other relevant factors.
About Falco Resources Ltd.
Falco is one of the largest mineral claim holders in the province of Quebec, with an extensive portfolio of properties in the Abitibi-Temiscamingue greenstone belt. Falco holds rights to approximately 67,000 hectares of land in the Noranda mining camp, which represents 67 per cent of the camp as a whole and includes 13 former gold and base metal mining sites. Falco's main asset is the Horne 5 project located beneath the former Horne mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development is Falco's largest shareholder, with a 16-per-cent interest in the corporation. |
