Big news for Falco! On June 28th, Falco (FPC-V) announced that it has entered into an Agreement-in-Principle with Glencore.
This Agreement establishes the framework under which Falco and Glencore will enter into the Principle Operating License and Indemnity Agreement which will enable Falco to develop and operate its flagship Horne 5 Project, including:
The creation of Technical and Strategic Committees, comprised of both Glencore and Falco representatives, to collaborate in the successful and safe development and operation of the Horne 5 Project and to capitalize on the many synergies between the parties.
The right to appoint one Glencore representative on Falco’s Board.
Rights of access, use and transformation rights in favour of Falco.
Financial assurance including guarantees, and indemnification to cover risks to Glencore’s copper smelting operations (the Horne Smelter).
As CEO, Luc Lessard said in the press release “This agreement is a major milestone for the development of the Horne 5 Project that we have been working towards over the last five years.”
Please contact me to learn more. R. Jeffrey White, LL.B., MBA Director, Investor Relations Falco Resources | TSX-V: FPC rjwhite@hingemarkets.com
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