Falcon Oil & Gas Ltd V.FO

US$10 million Private Placement with US Strategic Investor

[Betteryear2]

Falcon Oil & Gas Ltd.
(“Falcon” or the “Company”)

US$10 million Private Placement with US Strategic Investor
And
US$6 million Acquisition of Overriding Royalty Interest

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

31 March 2022 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that it has received a subscription from Sheffield Holdings LP (“Sheffield”) for a US$10 million private placement through the issue of 62,500,000 Common Shares (“the Placing Shares”) at a price of CAD$0.20 per share (“the Placing”). Following the placement Sheffield will hold a total of 90,443,607 Common Shares of Falcon, representing 8.66% of Falcon’s issued and outstanding Common Shares.

Falcon Oil & Gas Ltd. - US$10 million Private Placement with US Strategic Investor And US$6 million Acquisition of Overriding Royalty Interest

[Buckfinder]

Best investment to be: LNG, Australia, door to Asia, investment from US billionaire Tenbagger. GLTA

[Abedim15]

Falcon had said that they were funded for the 2022 work program so this is a bit disappointing. However, if I understand the release correctly- Sheffield Holdings approached them, offering a share price slightly higher than the current trading price with a little cash thrown in to reduce the ORRI due to the TOG Group.  let's hope Sheffield's track record for picking winners holds

[satchmo6]

the United States imposed sanctions on Mr. Vekselberg. The effect of these U.S.-imposed sanctions is that Lamesa's shareholding in Falcon has been quarantined are these sactions --the result of the Russian invasion  ???

[Abedim15]

- yes it relates to the invasion but in the case of Mr. Vekselberg I think the sanctions date back to the take over of Crimea by the Russians a few years ago

[Buckfinder]

Yes, old shoe.. Vekselberg sanctions were imposed 2018. The investment of the strategic partner Mr. Sheffield is MEGA GOOD NEWS - why? 1) Falcon gets a lot of inside information out of the fracking industry 2) It shows thar Mr. Sheffield sees a potential to make his investment at least 5x oder 10x 3) We can use the world wide ccontacts of Mr. Sheffield which are very important in the LNG area