Vancouver, B.C., August 10, 2022, FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); (“Falcon” or the “Company”) held its Annual General and Special Meeting (the “Meeting”) on August 10th, 2022., via conference call. Shareholders voted on and approved matters described in the previously circulated management information circular, being the election of directors, appointment of auditors and security-based compensation plan. The Meeting was adjourned and consideration and voting on the special resolution to approve the proposed statutory plan of arrangement with Latamark Resources Corp. was deferred to 10:00 AM PST on September 8, 2022.
The Company also announces it has arranged a non-brokered private placement to raise total proceeds of $300,000 through issuance of 4,000,000 units (each a “Unit”) at a price of $0.075 per Unit. Proceeds from the offering are for general working capital and exploration on the Company’s project portfolio. Each Unit will consist of one common share and one common share purchase warrant, with each whole warrant entitling the holder to subscribe to common share of the Company at a price of $0.10 for a period of 36 months following the acceptance date. The common shares and warrants issued under the Units will be subject to the standard four month hold period as prescribed by the policies of the TSX Venture Exchange.
Chief Executive Officer and Director Karim Rayani is subscribing for 1,000,000 Units for a total of $ 75,000, and James Farley, director of the Company, is subscribing for 400,000 Units for a total of $30,000.
About Falcon Gold Corp.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon’s flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle’s Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone (“QFZ”) and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
The Company holds 14 additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina, The Viernes Gold/Silver/Copper project in Antofagasta Chile, The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman’s JV, and Marvel Discovery in Central Newfoundland.
|Falcon Gold Corp. “Karim Rayani” Karim Rayani|
Chief Executive Officer, Director
Telephone: (604) 716-0551
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.