Falcon Gold Corp. (TSXV: FG | OTCQB: FGLDF) has oversubscribed its non-brokered private placement, by issuing a total of 9,246,154 flow-through units and 1,734,090 non-flow-through units for total proceeds of C$1,392,749.92.
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 projects. A fee will be paid in connection with the financing to GloRes Securities in the amount of C$78,120.01 subject to TSX Venture guidelines.
Each flow-through unit priced at C$0.13 and consists of one 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 C$0.25 for a period of 24 month following the closing date.
Each non-flow-through common unit priced at C$0.11 cents consists of one common share and one full 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 C$0.15 for a period of 24 months following the closing date.
All securities issued in connection with the offering are subject to a statutory hold period expiring four months and one day after closing. Completion of the offering, and payment of the finder’s fees are subject to approval of the TSX Venture Exchange.
To find out more, please visit www.falcongold.ca