Vancouver, B.C., July 25, 2019. FALCON GOLD CORP. (“Falcon” or the “Company”) announces that it has
closed a 2nd tranche of its private placement for $77,500 priced at $0.025 per common share Unit. Each
Unit consists of one Falcon common share (“Share”) and one share purchase warrant. Each Warrant has
a term of 24 months commencing on the Closing Date and entitles the holder to purchase a Share at a
price of $0.05 per share during the term of the Warrant. Gross proceeds raised from the placement
totalled $467,000 and the Company has issued 18,680,000 shares.
Proceeds from the Unit financing shall be used by the Company as follows: Ontario Gold and Copper
Properties Surface Exploration and Diamond Drilling – $282,425; Argentine gold/copper property
exploration and concessions payment – $50,325; rent – $14,400; office overhead – $7,500; administration
– $24,000; legal, audit and accounting – $22,500; Ontario properties fees and payments – $38,000; First
Nations consultations – $7,000; Offering expenses and investor communications – $12,000; regulatory
filing fees- $8,850.
The Company utilized various exemptions pursuant to this financing, including; the suitability advice
exemption (B.C. Instrument 45-536) and the existing shareholder exemption (CSA notice 45-313) which
allows for an investment of up to $15,000 (from a non-accredited investor) within any 12-month period.
There is no material fact or material change that has not been generally disclosed. TSX Exchange approval
has been received and all shares issued are subject to a four-month hold period expiring in November
Two directors of the Company participated in this financing on the same terms as other investors. This
transaction is exempt from shareholder approval and valuation requirements in accordance with MI 61-
101 (Protection of Minority Security Holders in Special Transactions).
About Falcon Gold Corp.
Falcon is a Canadian, mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Its Canadian projects include; the Central Canada gold and copper projects in Atikokan, Ontario, the Wabunk Bay gold, base metal project in Red Lake, Ontario and an interest in the Burton gold property located near Sudbury, Ontario. Falcon also has an agreement to acquire the Esperanza gold, copper project located within the Sierra de Las Minas District, Argentina.
On Behalf of the Board of Directors
Falcon Gold Corp.
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Neither 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 release.[/vc_column_text][/vc_column][/vc_row]