Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) said it has increased the size of its previously announced non-brokered private placement to raise a total of $1.2 million by issuing up to 7,692,307 flow-through units and 1,818,182 non-flow-through units.
The company said the proceeds of the offering will be used for the exploration and development of its British Columbia, Ontario, Newfoundland, and Quebec project portfolio.
Falcon said each flow-through unit priced at $0.13 will consist of one flow-through share and one-half of one share purchase warrant, with each whole warrant entitling the holder to subscribe for and purchase one non-flow-through share at a price of $0.25 for a period of 24 months following the date of issuance.
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Each non-flow-through unit priced at $0.11 per unit will consist of one share and one share purchase warrant, with each warrant entitling the holder to subscribe for and purchase one non-flow-through share at a price of $0.15 for a period of 25 months following the date of issuance.
The company noted that a finders' fee may be paid in connection with the offering and all securities issued will be subject to a statutory hold period expiring four months and one day after closing.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas.
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