Falcon Gold Corp. (TSXV: FG | GR: 3FA | OTCQB: FGLDF) has received final approval from the TSX Venture Exchange (TSXV) for its previously announced disposition of the Baie Verte Brompton Line (BVBL) property in Canada.
Further, the company entered into an option agreement with Carmanah Minerals Corp. and granted them the option to earn a 100% interest in Falcon’s BVBL property. The TSXV has informed Falcon that all conditions have been met for final approval have now been satisfied.
The Baie Verte Brompton Project in Central Newfoundland is strategically located on a peninsula that hosts all of Newfoundland’s current gold production, including Anaconda Mining Inc.’s Point Rousse gold mine and Rambler Metals Mining operations.
Falcon also seeks to raise gross proceeds of up to C$150,000 by issuing up to 6M units at a price of C$0.025 each, consisting of one Falcon share and one share purchase warrant. Each warrant is exercisable into an additional share at a price of C$0.05 each for two years. The net proceeds from the private placement will be used for general working capital purposes.
The private placement is subject to the approval of the TSXV.
For further information, please visit: www.falcongold.ca
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