Falcon Gold secures $360,000 through second tranche of private placement

On November 26, 2024, Falcon Gold Corp., based in Vancouver, Canada, announced the successful closure of the second tranche of its non-brokered private placement. The company issued 9,000,000 flow-through units, each priced at $0.04, accumulating gross proceeds of $360,000. These funds are specifically earmarked for incurring Canadian exploration expenses, as defined by the Income Tax Act (Canada), and are directed towards Falcon's properties located in the provinces of Newfoundland, Ontario, and Quebec. This strategic move is part of the company's ongoing efforts to enhance its exploration capabilities and financial strength. In connection with this financing round, Falcon Gold committed to paying finder's fees amounting to $25,200 in cash and issued 630,000 finder's warrants. These warrants provide the holders with the option to purchase common shares at a price of $0.08 for a span of two years, thus incentivizing investment in the company’s future endeavors. Notably, the proceeds from this private placement will not be used for payments to non-arm's length parties, nor will they be allocated to investor relations activities, highlighting the firm’s focus on compliance and fiscal responsibility. Moreover, it is significant to note that the securities resulting from this private placement have not been registered under the United States Securities Act or any state securities laws. Consequently, they cannot be offered or sold in the United States without adhering to regulatory requirements or applicable exceptions. This emphasizes the importance of regulatory compliance for companies operating in the capital markets, ensuring the protection of both the investors and the integrity of the financial system. Finally, Falcon Gold acknowledged that this development is subject to the approval of the TSX Venture Exchange, demonstrating the company's commitment to meeting the necessary regulatory standards while expanding its financial resources. The closure of this funding round underscores Falcon Gold’s proactive approach in navigating the complexities of financing in the resource sector, particularly as it seeks to maximize the potential of its exploration projects across Canada.