Vancouver, BC, October 17, 2023. FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); (the “Company”) is pleased to announce that it has received final approval from the TSX Venture Exchange (the “TSXV”) of its previously announced disposition of the Company’s Baie Verte Brompton Line (“BVBL”) property. Further to its news releases dated June 8, 2023 and September 7, 2023, the Company entered into an option agreement with Carmanah Minerals Corp. (“Carmanah”) whereby the Company granted Carmanah the option to earn a 100% interest in Falcon’s BVBL property. The TSXV has informed the Company that all conditions have been met for final approval, including the filing of a National Instrument 43-101 technical report in respect of the BVBL property, have now been satisfied.
The Company also seeks to raise gross proceeds of up to $150,000 (the “Private Placement”) by issuing up to 6,000,000 units (the “Units”) at a price of $0.025 per Unit, consisting of one common share of the Company (a “Share”) and one share purchase warrant (a “Warrant”). Each Warrant is exercisable into an additional Share at a price of $0.05 per Share for a period of two (2) years. The net proceeds from the Private Placement will be used for general working capital purposes.
The Private Placement is subject to the approval of the TSXV.
CONTACT INFORMATION:
| Falcon Gold Corp. “Karim Rayani” Karim Rayani Chief Executive Officer, Director |
Telephone: (604) 716-0551
Email: info@falcongold.ca
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.
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.