Business
FALCON OIL & GAS LTD. ANNOUNCES COMPLETION OF PRIVATE PLACEMENT
Apr. 11, 2011 (Canada NewsWire Group) -- /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR...
About this update from Falcon Oil & Gas Ltd.
[{"type":"text","content":"\n\n\n Apr. 11, 2011 (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\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n THE U.S./\n\n\nDENVER, CO, April 11 /CNW/ - Falcon Oil & Gas Ltd. (TSXV: FO) ("Falcon" or the "Company") today\n announced the completion of its private placement, the details of which\n were previously announced on November 24, 2010. The Company issued an\n aggregate of 87,049,999 units at an issuance price of CDN$0.15 per unit\n (each unit consisting of one common share in the capital of Falcon and\n three quarters of one common share purchase warrant) for aggregate\n gross proceeds of CDN$13,057,500.  Each whole common share purchase\n warrant entitles the holder to acquire one common share of Falcon at an\n additional purchase price of CDN$0.18 per share for a period of 36\n months from the date of issuance. Subject to applicable securities\n legislation, an aggregate of 44,533,333 common shares and 33,400,000\n common share purchase warrants are subject to a hold period until June\n 11, 2011 and an aggregate of 42,516,666 common shares and 31,887,500\n common share purchase warrants are subject to a hold period until\n August 9, 2011. The private placement remains subject to final approval\n from the TSX Venture Exchange.\n\n\nExisting major shareholders of Falcon participated in the private\n placement. They were joined by members of management and the Board of\n Directors of Falcon, which together accounted fo...