Business
Falcon Applies to Extend Warrants & Appoints CFO
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2020) - FALCON GOLD CORP. (TSXV: FG)...
About this update from Falcon Gold Corp.
[{"type":"text","content":"Falcon Applies to Extend Warrants & Appoints CFOVancouver, British Columbia--(Newsfile Corp. - May 14, 2020) - FALCON GOLD CORP. (TSXV: FG) (FSE: 3FA) (\"Falcon\" or \"the Company\") announces that it has applied to the TSX Venture Exchange to extend the term of 4,420,000 common share purchase warrants originally set to expire (\"The Warrants\") on May 18, 2020. The warrants were originally issued pursuant to a private placement dated April 6th2018. The exercise price will remain the same at $ 0.10 cents per common unit. The warrants will hold a forced acceleration in the event the common shares close at or above $ 0.15 cents for more than 10 consecutive days. The amendment to extend the expiry date of the warrants to (May 18th2021) is subject to the approval of the TSX Venture Exchange in accordance with the TSX.V polices. The company is also pleased to announce the appointment of Ms. Sandey Wang (CPA, CGA, B. Eng.) to the position of Chief Financial Officer effective immediately. Ms. Wang has over 25 years of public company accounting experience and is proficient in all levels of accounting, financial management and reporting. Ms. Wang replaces James Farley, current Interim CFO. Mr. Farley remains as a director. About Falcon Gold Corp.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 project is approximately 20 kilometers SE of Agnico Eagle's Hammond Reef Gold Deposit which has a Measured & Indicated estimated resource of 208 Million Tonnes containing 4.5 Million ounces of Gold. The Hammond Reef gold property lies on the Hammond fault which is the control for the gold deposit. The Central Gold property lies on a similar major structure the Quetico Fault. History on Central Canada 1901 to 1907 - Shaft to a depth of 12 m and 27 oz of gold from 18 tons using a stamp mill. 1930 to 1935 - Central Canada Mines Ltd. deepened the shaft to 40 m with about 42 m of crosscuts and installed a 75 ton per day gold mill. 1965 Anjamin Mines completed diamond drilling and in hole S2 returned a 2 ft section of 37.0 g/t Au and hole S3 assayed 44.0 g/t Au across 7 ft. 1985 - Interquest Resources Corp. drilled 13 diamond holes totaling 1,840 m in which a 3.8 ft intersection showed 30.0 g/t Au. The company holds 3 proje...