Falcon Announces Non-Brokered Private Placement
FALCON GOLD CORP. Suite 1100 – 1111 Melville St. Vancouver, BC, V6E 3V6 VANCOUVER TEL: (604) 716-1036 TORONTO TEL: (416) 477-1220 www.falcongold.ca [email protected]
NEWS RELEASE FG: TSXV 3FA: FRA
FALCON ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Vancouver, BC, October 18, 2024 – Falcon Gold Corp. (FG: TSXV) (3FA: FRA) (“Falcon” or the “Company”) announces that it has arranged a non-brokered private placement of up to 5,000,000 flow-through units (the “FT Units”) at $0.04 per FT Unit and up to 2,857,143 non flow-through units (the “NFT Units”) at $0.035 per NFT Unit for aggregate gross proceeds of up to $300,000 (the “Private Placement”).
Each FT Unit consists of one flow-through share of the Company (an “FT Share”) and one-half of one share purchase warrant (each whole warrant, an “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 (an “NFT Share”) and one share purchase warrant (an “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 Ontario. 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 nonarm’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: [email protected]
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.
2 | P a g e