Falcon Gold Corp. closed a non-brokered private placement of 4,000,000 units at a price of CAD 0.075 per unit for gross proceeds of CAD 300,000 on August 10, 2022. Each unit will consist of one common share and one common share purchase warrant, with each whole warrant entitling the holder to subscribe to common share of the company at a price of CAD 0.10 for a period of 36 months following the acceptance date. The transaction included participation from Karim Rayani, the Chief Executive Officer for 1,000,000 units and James Farley Director of the company for 400,000 units. The securities to be issued in the transaction are subject to a hold period of four months. The closing of the private placement is subject to TSX Venture Exchange approval.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from six placees. The transaction included participation of insiders such as James Farley for 400,000 shares and Karim Rayani 1,000,000 shares.