Business
FALCON OIL & GAS LTD. ANNOUNCES A PRIVATE PLACEMENT
FALCON OIL & GAS LTD. ANNOUNCES A PRIVATE PLACEMENT
About this update from Falcon Oil & Gas Ltd.
[{"type":"text","content":"\n\n\n\n Nov. 24, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nDENVER, CO, Nov. 24 /CNW/ - Falcon Oil & Gas Ltd. (TSXV: FO) ("Falcon") announces today that it has\n entered into an agreement to raise up to $63 million in the form of\n units ("Units") priced at $0.15 per Unit (the "Offering Price") by way\n of a private placement (the "Offering") with two new investors, the\n Orient Group Energy Investment Holding Co Ltd. (the "Orient Group") and\n Leisuo Trading Holding Company ("Leisuo"), as well as certain existing\n shareholders of Falcon including funds managed by Burlingame Asset\n Management LLC and Soliter Holdings Corp. controlled by the Renova\n Group. The Offering Price represents an 18% premium to the last months\n average trading price. Each Unit will consist of one common share in\n the capital of Falcon (each a "Common Share") and three quarters (3/4)\n of one common share purchase warrant (a "Warrant").  Each whole Warrant\n will entitle the holder thereof to acquire one additional Common Share\n at an exercise price of $0.18, representing a 20% premium to the\n Offering Price, for a period of three years from the Offering's closing\n date (the "Closing Date"). The proceeds from the Offering will be used\n to fund Falcon's ongoing capital program and for general corporate\n purposes.\n\n\nExisting major shareholders will be subscribing, in aggregate, for more\n than ...