Falcon Closes Second Tranche and Increases 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: TSX-V 3FA: GR FGLDF: OTCQB
FALCON CLOSES SECOND TRANCHE AND INCREASES PRIVATE PLACEMENT
Vancouver, BC, May 27, 2024 FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); (the “Company”) announces that it has increased its previously announced non-brokered private placement from aggregate gross proceeds of up to $510,000 to $585,000 through the issuance of up to 9,000,000 flow-through shares (the “FT Shares”) at $0.05 per FT Share and up to 2,700,000 units (the “Units”) at $0.05 per Unit (the “Private Placement”).
Each Unit consists of one non-flow through share of the Company and one transferrable share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire an additional common share of the Company (a “Warrant Share”) at an exercise price of $0.07 per Warrant Share for a period of three
(3) years.
The Company further announces that it has closed the second tranche of the Private Placement by issuing 1,662,000 Units at $0.05 per Unit for gross proceeds of $83,100. The proceeds from the Second Tranche will be used for general working capital purposes. All securities issued pursuant to the Second Tranche will be subject to a statutory hold period in accordance with applicable Canadian securities laws.
Lastly, the Company has extended the closing date of the Private Placement and now expects to close the Private Placement on or before June 27, 2024. The Private Placement is subject to final acceptance of the TSX Venture Exchange.
CONTACT INFORMATION:
Falcon Gold Corp.
“Karim Rayani”
Karim Rayani Chief Executive Officer, Director Telephone: (604) 716-1036 Email: [email protected]
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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.
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