Exploration money for Falconbridge

Falconbridge Ltd. says it will raise $13.2 million in flow-through funds to finance Canadian exploration expenditures on the company’s properties this year.

Falconbridge says it has an agreement with NIM and Company Limited Partnership — 1987, under which Falconbridge will issue common shares to NIM in return for the $13.2 million. The agreement is still subject to regulatory approval.