Falcon Announces Closing of Private Placement

Vancouver, British Columbia–(Newsfile Corp. – July 25, 2019) – FALCON GOLD CORP. (TSXV: FG) (“Falcon” or the “Company”) announces that it has closed a 2nd tranche of its private placement for $77,500 priced at $0.025 per common share Unit. Each Unit consists of one Falcon common share (“Share”) and one share purchase warrant. Each Warrant has a term of 24 months commencing on the Closing Date and entitles the holder to purchase a Share at a price of $0.05 per share during the term of the Warrant. Gross proceeds raised from the placement totalled $467,000 and the Company has issued 18,680,000 shares.

Proceeds from the Unit financing shall be used by the Company as follows: Ontario Gold and Copper Properties Surface Exploration and Diamond Drilling – $282,425; Argentine gold/copper property exploration and concessions payment – $50,325; rent – $14,400; office overhead – $7,500; administration – $24,000; legal, audit and accounting – $22,500; Ontario properties fees and payments – $38,000; First Nations consultations – $7,000; Offering expenses and investor communications – $12,000; regulatory filing fees- $8,850.

The Company utilized various exemptions pursuant to this financing, including; the suitability advice exemption (B.C. Instrument 45-536) and the existing shareholder exemption (CSA notice 45-313) which allows for an investment of up to $15,000 (from a non-accredited investor) within any 12-month period. There is no material fact or material change that has not been generally disclosed. TSX Exchange approval has been received and all shares issued are subject to a four-month hold period expiring in November 2019.

Two directors of the Company participated in this financing on the same terms as other investors. This transaction is exempt from shareholder approval and valuation requirements in accordance with MI 61-101 (Protection of Minority Security Holders in Special Transactions).

About Falcon Gold Corp.

Falcon is a Canadian, mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Its Canadian projects include; the Central Canada gold and copper projects in Atikokan, Ontario and an interest in the Burton gold property located near Sudbury, Ontario. Falcon also has an agreement to acquire 20,000 hectares located within the Sierra de Las Minas District, Argentina which is known to host to several past producing gold, copper and silver mines.


Falcon Gold Corp.

David Tafel

Karim Rayani
CEO & Director

Telephone: 604-683-1991
Email: [email protected]

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46523

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