Vancouver, BC, November 19TH, 2024, – Falcon Gold Corp. (FG: TSXV) (3FA: FRA) (“Falcon” or the “Company“) announces that it has increased its non-brokered private placement previously announced October 18th, 2024. The Company will issue now issue up to 14,000,000 flow-through units (the “FT Units”) at $0.04 per FT Unit, in addition 6,700,000 flow through units will be issued at $.045 per unit for expenditures incurred in the province of Quebec and 2,857,143 non-flow-through units (the “NFT Units”) at $0.035 per NFT Unit for aggregate gross proceeds of up to $961,500.00 (the “Private Placement”).
Each FT Unit consists of one flow-through share of the Company (a “FT Share”) and one-half of one share purchase warrant (each whole warrant, a “FT Unit Warrant”). Each FT Unit Warrant entitles the holder thereof to acquire one non-flow-through share (a “Warrant Share”) at an exercise price of $0.08 per Warrant Share for a period of two (2) years.
Each NFT Unit consists of one non-flow-through share of the Company (a “NFT Share”) and one share purchase warrant (a “NFT Unit Warrant”). Each NFT Unit Warrant entitles the holder thereof to acquire one Warrant Share at an exercise price of $0.05 per Warrant Share for a period of four (4) years.
The gross proceeds from the sale of the FT Units will be used to incur “Canadian exploration expenses” within the meaning of the Income Tax Act (Canada) on the Company’s properties in the province of Newfoundland, Ontario and Quebec. The gross proceeds from the sale of the NFT Units will be used for general working capital and corporate purposes. None of the proceeds from the Private Placement will be used for payments to non-arm’s length parties or persons conducting investor relations activities.
Finders’ fees may be paid in connection with the Private Placement. All securities issued pursuant to the Private Placement will be subject to a statutory hold period in accordance with applicable Canadian securities laws. The Private Placement is subject to approval of the TSX Venture Exchange.
CONTACT INFORMATION:
Falcon Gold Corp.
“Karim Rayani”
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: info@falcongold.ca
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.
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.