Vancouver, B.C., November 17, 2022, FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); (“Falcon” or the “Company”). Further to the Company’s news releases of June 1, 2022, June 16, 2022, August 2, 2022, August 10, 2022, and October 20, 2022 the Company is pleased to announce that its previously announced plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”) involving Latamark Resources Corp. (“Latamark”)has been completed. The Arrangement was approved by special resolution at a special meeting of shareholders held on September 8, 2022. The Company obtained a final order approving the Arrangement from the Supreme Court of British Columbia on September 14, 2022, and the Arrangement became effective on November 2, 2022.
Pursuant to the Arrangement, holders of Falcon shares as of the close of business on October 28, 2022 received one common share in the capital of Latamark (each, a “Latamark Share”)for every 5.8 common shares held in the Company. Latamark has also issued 5,000,000 Latamark Shares to Falcon pursuant to the Arrangement.
It is the intention of Latamark to raise new capital, and to seek a listing on the TSX Venture Exchange (“TSXV”), however there is no assurance Latamark will be successful in doing so.
Additional information about the Arrangement is detailed in the Company’s Information Circular filed on the Company’s profile on SEDAR at www.sedar.com.
About Falcon Gold Corp.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon’s flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle’s Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone (“QFZ”) and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
The Company holds multiple additional projects: The Viernes Gold/Silver/Copper project in Antofagasta Chile, the Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman’s JV, and Marvel Discovery in Central Newfoundland.
|Falcon Gold Corp. “Karim Rayani” Karim Rayani|
Chief Executive Officer, Director
Telephone: (604) 716-0551
Cautionary Language and Forward-Looking Statements
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things, the public listing of Latamark on the TSXV. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.