September 30, 2021
Vancouver, B.C., September 30, 2021. FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); (“Falcon” or the “Company”) is pleased to report it has oversubscribed its non-brokered private placement announced on September 24th 2021. The Company has raised a total of $535,210 by issuing 4,117,000 Flow-Through Units (the “FT Offering”).
Each unit priced at $0.13 will consist of one flow-through common share and one-half of one common share purchase warrant; each whole warrant (“Warrant”) entitling the holder to subscribe for and purchase one non-flow-through common share (“Warrant Shares”) at a price of $0.25 for a period of 24 months following the acceptance date. The shares and warrants are subject to a four-month hold (as per TSX Venture Exchange policy).
The aggregate gross proceeds from the sale of the FT Offering will be used for exploration and development of the Company’s British Columbia, Ontario and Newfoundland projects. A fee will be paid in connection with the offering to GloRes Securities in the amount of $ 31,800 subject to TSX Venture guidelines.
All securities issued in connection with the FT Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering, and payment of the Finders’ fee are subject to the approval of the Exchange.