Business
Falcon Closes $ 157,247 Private Placement, Receives Additional $167,250 from Warrant Exercises
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2020) -   FALCON GOLD CORP. (TSX...
About this update from Falcon Gold Corp.
[{"type":"text","content":"Falcon Closes $ 157,247 Private Placement, Receives Additional $167,250 from Warrant ExercisesVancouver, British Columbia--(Newsfile Corp. - May 19, 2020) -  FALCON GOLD CORP. (TSXV: FG), (FSE: 3FA); (\"Falcon\" or \"the Company\") announces that it has fully subscribed its non brokered private placement announced May 12th 2020, then further increased on May 13th 2020. The company has received a total of $157,247.50 in subscriptions pending TSX Venture Exchange approval. The Company has also received an additional $167,250 from the exercise of common share purchase warrants since April 17th2020.In connection with the current offering the company has issued 2,096,634 units with each unit consisting of one common share at a price of $0.075 cents per unit and one transferable share purchase warrant at $0.10 per unit. Each warrant has a term of 24 months following the closing date. This financing is subject to TSX Venture Exchange approval.The company has now received TSX Venture Exchange approval to extend the term of the 4,420,000 warrants set to expire on May 18th 2020 for one additional year to May 18th 2021. 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 share. 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.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...