Falcon Announces Private Placement Repricing

FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); (the "Company") announces that it has repriced its non-brokered private placement previously announced on October 17, 2023 (the "Private Placement") and increased the number of units ("Units") offered.

The price per Unit of the Private Placement has been repriced from $0.025 per Unit to $0.03 per Unit and the gross proceeds has increased from up to $150,000 to $300,000. Accordingly, the number of Units offered has increased from up to 6,000,000 to 10,000,000.

Each Unit consists of one common share in the capital of the Company ("Share") and one Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one additional Share for a period of two years from the date of issuance at a price of $0.05 per Share. The net proceeds from the Private Placement will be used for general working capital purposes.

Karim Rayani, CEO and director, intends to acquire 1,666,667 Units under the Private Placement, which participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

The Private Placement is subject to TSX Venture Exchange approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month and one day hold period from the closing date.

CONTACT INFORMATION:

Falcon Gold Corp.

"Karim Rayani" Karim Rayani

Chief Executive Officer, Director

Telephone: (604) 716-0551

Email: info@falcongold.ca

Cautionary Language and Forward-Looking Statements

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source

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