Folkstone Capital Corp. announced a non-brokered private placement of up to 8,000,000 post consolidated common shares at a price of CAD 0.05 per post-consolidated common share for gross proceeds of CAD 400,000 on December 22, 2020. The offering was approved by disinterested shareholders of the company at its Annual General and Special Meeting held on October 23, 2020. The closing of the transaction is subject to approval of TSX Venture Exchange and consolidation of the company’s common shares on a 3 old for 1 new basis.