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Falcon Energy Materials PLC Closes Upsized C$6.52 Million Private Placement to Advance Strategic Projects
ABU DHABI, UNITED ARAB EMIRATES - March 25, 2025 (NEWMEDIAWIRE) - Falcon Energy Materials plc (TSX-V: FLCN) ("Falcon" or the "Company") is pleased to announce the upsize of its previously announced non-brokered private placement (the "Private Placeme...
About this update from Falcon Energy Materials Plc
[{"type":"text","content":"ABU DHABI, UNITED ARAB EMIRATES - March 25, 2025 (NEWMEDIAWIRE) - Falcon Energy Materials plc (TSX-V: FLCN) ("Falcon" or the "Company") is pleased to announce the upsize of its previously announced non-brokered private placement (the "Private Placement") from 10,000,000 units (the "Units") of Falcon, at a price of C$0.60 per Unit, to 10,874,832 Units for gross proceeds of C$6,524,900 and the closing thereof on March 24, 2025.","length":469,"tagName":"p"},{"type":"text","content":"Each Unit is comprised of one ordinary share of the Company (a "Share") and one non-transferable share purchase warrant (a "Warrant"). Each Warrant grants the holder the right to purchase one additional Share (a "Warrant Share") at a price of C$0.75 per Warrant Share for a period of 36 months from the date of closing.","length":349,"tagName":"p"},{"type":"text","content":""We are extremely pleased with the strong investor confidence demonstrated by the successful closing of this Private Placement," said Matthieu Bos, Chief Executive Officer of Falcon. "We extend our sincere gratitude to our existing shareholders for their continued support and are excited to welcome many new shareholders today. The significant backing from the La Mancha Fund, the Commodity Discovery Fund, and our technical partner underscores the strength of our strategy and validates our development plans for 2025."","length":541,"tagName":"p"},{"type":"text","content":"The proceeds from the Private Placement will be used to advance the development of the Company's strategic projects in Morocco and Guinea, as well as for general working capital requirements. All securities issued under the Private Placement will be subject to a statutory four-month hold period in accordance with applicable Canadian securities laws until July 25, 2025. Notably, no commissions were paid in connection with the Private Placement.","length":451,"tagName":"p"},{"type":"text","content":"The participation of La Mancha Fund SCSp (acting via its wholly owned subsidiary, "La Mancha") in the Private Placement is irrevocable and has been closed in escrow, subject only to the approval of the disinterested Company shareholders (the "Shareholders' Approval") at the Company's next annual general mee...