Falco Resources closed a financing with Osisko Gold Royalties. Osisko will provide a C$10 million ($7.4 million) loan. The loan will be used for to advance the Horne 5 Project and for general corporate purposes.

The loan has an 18-month maturity, and interest shall be payable on the principal amount at a rate per annum that is equal to 7%, compounded quarterly, payable upon repayment of the principal amount.

Luc Lessard, president and CEO of Falco commented, “We are very pleased to benefit from our partnership with Osisko. With this financing now completed, we will work aggressively to advance the development of the Horne 5 Project. This is an important first step in completing the funding necessary to see the Horne 5 Project realized.”