Closing of Senior Debt transactions between Glencore Canada and Falco Resources

On December 16, 2025, Glencore Canada Corporation (“Glencore”) has successfully closed, effective as of December 31, 2025, the senior debt transaction with Falco Resources Ltd. ("Falco"), which was previously announced by Falco on October 31, 2025. The transaction consisted of the extension of the maturity date of the senior secured convertible debenture issued by Falco to Glencore and the issuance by Falco to Glencore, as consideration for the extension of the maturity date of the debenture, of 21,381,422 warrants to purchase common shares of Falco.

Glencore is one of the world’s largest globally diversified natural resource companies.

McCarthy Tétrault assisted Glencore with a team led by Charles-Antoine Soulière and Konstantin A. Sobolevski.