Falcon Oil & Gas Ltd. - Issue of Private Placement Shares

Source: www.gulfoilandgas.com 4/8/2022, Location: Not categorized

Falcon Oil & Gas Ltd. is pleased to announce that, following the approval of the TSX Venture Exchange, it has issued a total of 62,500,000 Common Shares (“Placing Shares”) at a price of CAD$0.20 per share to Sheffield Holdings LP for gross proceeds of US$10 million pursuant to the private placement announced on 31 March 2022.

The Company has applied for admission of the Placing Shares to trading on AIM (“Admission”), with Admission expected to occur on 13 April 2022. The Placing Shares will not trade on the TSX Venture Exchange Market until the date that is four months and a day after the day of issuance, being 07 August 2022. The Company’s total issued share capital following Admission will be 1,044,347,425 Common Shares.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United State or to, of for the account or benefit of, U.S. persons absent registrations or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in which such offer, solicitation or sale would be unlawful.


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