Falcon Gold Corp. (TSXV: FG | OTCQB: FGLDF) has increased the size of its previously announced non-brokered private placement to raise a total of $1,200,000 by issuing up to 7,692,307 flow-through units and issuing 1,818,182 non-flow-through units.
Falcon has stated that each flow through 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 entitling the holder to subscribe for and purchase one non-flow-through common share at a price of $0.25 for a period of 24 months following the date of issuance.
Each non-flow-through unit priced at $0.11 per unit will consist of one common share and one common share purchase warrant; each warrant entitling the holder to subscribe for and purchase one non-flow-through common share at a price of $0.15 cfor a period of 24 months following the date of issuance.
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, Newfoundland, and Quebec project portfolio.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon’s flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle’s Hammond Reef Gold Deposit which has currently estimated 3.32Moz gold mineral reserves, and 2.3Moz of measured and indicated mineral resources. The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
The Company holds 14 additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina; The Viernes Gold/Silver/Copper project in Antofagasta Chile; The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; the Great Burnt, Gander North/South, Valentine Gold South, Victoria West, and Golden Brook acquisitions adjacent to First Mining, Matador, Benton-Sokoman’s JV, and Marvel Discovery in Central Newfoundland; and most recently Battery Metals projects in Ontario and Quebec, The Timmins West and Outarde Property.
To find out more, please visit www.falcongold.ca
