Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) closed the first tranche of a non-brokered private placement, raising $235,000 through issuing 5 million flow-through units at $0.04 per unit and 1 million non-flow-through units at $0.035 per unit.
Each FT Unit includes one flow-through share and half a warrant, exercisable at $0.08 for two years. Each NFT Unit includes one non-flow-through share and a warrant, exercisable at $0.05 for four years.
Proceeds will fund Canadian exploration expenses in Newfoundland and general corporate purposes.