Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) told investors it has closed the fourth and final tranche of its previously announced non-brokered private placement, issuing 2.6 million units at $0.05 for gross proceeds of $130,000.
Each unit comprised one non-flow-through share and one transferable share purchase warrant entitling the holder to acquire a share at $0.07 for three years.
Under the private placement, the company issued 9.6 million flow-through shares at $0.05 and 4,262,000 units at $0.05 for aggregate gross proceeds of $693,100.
The proceeds from the flow-through shares will be used for exploration and development work across its British Columbia, Ontario, Newfoundland, and Quebec projects.
The proceeds from the unit sales will be used for general working capital purposes.