Falcon Gold Increases Financing Due To Excess Demand

Falcon Gold (TSXV: FG) has increased its outstanding offering that was announced earlier this week as a result of strong investor demand. The offering, a non-brokered private placement, will see shares issued at a premium to the closing share price of the equity.

The initial offering, announced Tuesday for a total figure of $100,000 in gross proceeds, has now been increased by 30% due to excess investor demand. The increased offering of $130,000 will see the issuance of 1,733,333 units at a price of $0.075 per unit.

Each unit under the offering comes with one common share and one transferable purchase warrant. Each warrant has an exercise price of $0.10 per share and an expiry of 24 months from the date of issuance.

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Proceeds from the financing are to be utilized for general working capital, as well as for exploration at Falcon Gold’s Red Lake and Central Canada gold projects.

Falcon Gold last traded at $0.06 on the TSX Venture.

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