Business
Falcon Oil & Gas Ltd. completes $11,910,000 debt and equity financing
(TSXV Symbol: FO) /NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWI...
About this update from Falcon Oil & Gas Ltd.
[{"type":"text","content":"\n\n\n\n(TSXV Symbol: FO)\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO\nU.S. NEWSWIRE SERVICES/\n\n\nDENVER, June 30 /CNW/ - Falcon Oil & Gas Ltd. (TSXV: FO) ("Falcon" or the\n"Company") is pleased to announce that it has completed its previously\nannounced public offering, issuing 11,910 units (the "Units") for gross\nproceeds of $11,910,000, at an offering price of $1,000 per Unit (the\n"Offering"). Each Unit consists of $900 worth of 11% convertible unsecured\ndebentures (each a "Debenture") in the principal amount of $1,000 due on the\ndate that is four years following the closing of the Offering and 250 common\nshares in the capital of the Company. The Debentures were issued in $1,000\nprincipal amount increments only. In no circumstances will the principal\namount of any Debenture issued be less than $1,000. The Offering was conducted\non a commercially reasonable efforts basis by Salman Partners Inc. as agent.\n\n\nThe Company intends to use the net proceeds from the Offering in\naccordance with the description provided in the prospectus.\n\n\nThe above noted securities have not been and will not be registered under\nthe United States Securities Act of 1933, as amended (the "1933 Act"), and may\nnot be offered or sold in the United States or to U.S. Persons (as defined in\nRegulation S under the 1933 Act) except in accordance with an exemption from\nthe registration requirements of the 1933 Act and applicable state securities\nlaws. This press release shall not constitute an offer to sell or the\nsolicitation of an offer to buy nor shall there be any sale of the securities\nin any jurisdiction in which such offer, solicitation or sale would be\nunlawful.\n\n\nAbout Falcon Oil & Gas Ltd.\n\n\nFalcon Oil & Gas Ltd. is a British Columbia corporation in the business\nof oil and gas exploration and production. It has operations in Hungary\nthrough its wholly owned subsidiary TXM Oil and Gas Exploration, LLC, in\nRomania through its wholly owned subsidiary JVX Energy Corporation, in\nColorado through its wholly owned subsidiary Falcon Oil & Gas USA, Inc., and\nin Australia through its wholly owned subsidiary Falcon Oil & Gas Australia\nPty Ltd. Further information about Falcon is available at\nwww.falconoilandgas.com.\n\n\nI...