Falcon Gold Corp. (TSXV:FG) announces that it has closed a first tranche of its previously announced non-brokered private placement, for 7,680,000 Units priced at $0.05 for total gross proceeds of $384,000. Each Unit consists of one common share and one 2 year warrant. Each warrant will be exercisable for one common share at $0.10 during the first year or $0.12 during the second year. The units are subject to a four month hold period expiring on November 24, 2014. Finders’ fees have been paid and consist of: $16,800, 70,000 Agents’ warrants exercisable for common shares and 60,000 Agent’s options exercisable for common share units on the same basis as the subscribers.
Proceeds from this financing will be used to complete its due diligence on the New York Canyon copper project (NR-June 09, 2014), continued exploration activities on its Washington silver project, and general corporate purposes. The Company anticipates the final closing for the offering to occur on or about August 12, 2014.
Nancy
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