Falcon Closes Second Tranche of Private Placement
Falcon Gold has completed the second tranche of its non-brokered private placement, raising $360,000 through the issuance of 9,000,000 flow-through units at $0.04 per unit.
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Rhea-AI Summary
Falcon Gold has completed the second tranche of its non-brokered private placement, raising $360,000 through the issuance of 9,000,000 flow-through units at $0.04 per unit. Each unit includes one flow-through share and half a warrant, with each whole warrant exercisable at $0.08 for two years. The proceeds will fund Canadian exploration expenses in Newfoundland, Ontario, and Quebec properties. The company paid $25,200 in finder's fees and issued 630,000 finder's warrants exercisable at $0.08 for two years.
Positive
- Secured $360,000 in additional funding through flow-through units
- Proceeds earmarked for exploration activities across three Canadian provinces
Negative
- Share dilution through issuance of 9,000,000 new units
- Additional dilution potential from 4.5 million warrants at $0.08
- Incurred $25,200 in cash finder's fees plus 630,000 finder's warrants
Details
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VANCOUVER, BC / ACCESSWIRE / November 26, 2024 / Falcon Gold Corp. (TSXV:FG)(FRA:3FA) ("Falcon" or the "Company") announces that it has closed the second tranche of its previously announced non-brokered private placement by issuing 9,000,000 flow-through units (the "FT Units") at
Each FT Unit consists of one common share of the Company issued as a "flow-through share" and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder to purchase one Common Share at a price of
The net 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. 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.
In connection with the Second Tranche, the Company paid finder's fees consisting of
The securities described herein have not been, and will not be, registered under the United States Securities Act, or any state securities laws, and accordingly may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
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
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.
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.
SOURCE: Falcon Gold Corp.
View the original press release on accesswire.com
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