MONTREAL, April 04, 2024 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX.V: FPC) (Falco or the Corporation) is pleased to announce that it has entered into a services agreement (the Agreement) with Red Cloud Financial Services Inc. (RCFS) pursuant to which RCFS has agreed to provide certain advisory services to the Corporation, including advice on marketing and social media activities, in accordance with Policy 3.4 of the TSX Venture Exchange (the Exchange).
Under the engagement, RCFS will be paid a fee of $10,000 per month for the services it will render starting on April 4th, 2024, for an initial twelve-month term, which may be reduced to six months in certain circumstances (the Initial Term). The Agreement will transition to a month-to-month basis following the Initial Term. There are no performance factors contained in the agreement and RCFS will not receive common shares or options as compensation.
RCFS and the Corporation are arms-length parties and RCFS and its principals do not currently own or have any interest, directly or indirectly, in the securities of the Corporation. However, RCFS and its clients may acquire an interest in the securities of the Corporation in the future.
RCFS is a Toronto-based financial services firm that provides assistance to mineral exploration and mining companies in accessing capital markets and enhancing their corporate profile.
Luc Lessard, President and CEO of Falco commented: In the current context of Falco where major milestones are being met, we look forward to RCFS introducing us to a broader investor base and providing a range of corporate advisory and promotional services. RCFS is a seasoned group recognized in the mining sector and we are excited for this collaboration.
About Falco
Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns approximately 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the entire camp and includes 13 former gold and base metal mine sites. Falco's principal asset is the Horne 5 Project located under the former Horne mine that 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 Corp. is Falco's largest shareholder owning a 17.3% interest in the Corporation.
For further information, please contact:
Luc LessardPresident and Chief Executive Officer514 261-3336info@falcores.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, forward-looking statements) within the meaning of applicable securities laws. These statements are based on information currently available to the Corporation and the Corporation provides no assurance that actual results will meet management's expectations. The occurrence of such events or the realization of such statements is subject to a number of risk factors, including the risk factors identified in Falco's MD&A and other continuous disclosure documents available at www.sedarplus.ca.
Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.