FALCON RECEIVES TSXV APPROVAL OF DISPOSITION & P/P Mr. Karim Rayani reports
FALCON RECEIVES TSXV APPROVAL OF DISPOSITION OF BVBL PROPERTY AND ANNOUNCES $150,000 PRIVATE PLACEMENT
Falcon Gold Corp. has received final approval from the TSX Venture Exchange of its previously announced disposition of the company's Baie Verte Brompton Line (BVBL) property. Further to its news releases dated June 8, 2023, and Sept. 7, 2023, the company entered into an option agreement with Carmanah Minerals Corp., whereby the company granted Carmanah the option to earn a 100-per-cent interest in Falcon's BVBL property. The TSX-V has informed the company that all conditions have been met for final approval, including the filing of a National Instrument 43-101 technical report in respect of the BVBL property, have now been satisfied.
The company also seeks to raise gross proceeds of up to $150,000 by issuing up to six million units at a price of 2.5 cents per unit, with each unit consisting of one common share of the company and one share purchase warrant. Each warrant is exercisable into an additional share at a price of five cents per share for a period of two years. The net proceeds from the private placement will be used for general working capital purposes.
The private placement is subject to the approval of the TSX-V.
We seek Safe Harbor.