Mr. Matthieu Bos reports
FALCON ENERGY MATERIALS PLC ANNOUNCES PRIVATE PLACEMENT OF C$25 MILLION TO ACCELERATE PROJECT DEVELOPMENT
Falcon Energy Materials PLC has arranged a non-brokered private placement for gross proceeds of $25-million.
Under the terms of the private placement, the company will issue up to 41,666,667 units of Falcon at a price of 60 cents per unit. Each unit will be composed of one ordinary share of the company and one non-transferable share purchase warrant. Each warrant grants the holder the right to purchase, for a period of 36 months from the date of closing, one additional share at a price of 75 cents per warrant share.
"The private placement is supported by our largest shareholders, underscoring confidence in Falcon's strategy and long-term prospects," said Matthieu Bos, chief executive officer of Falcon. "We are also pleased to welcome several high-profile new shareholders with strong business relationships in Europe, across the Atlantic and globally. With multiple catalysts ahead, this support positions Falcon well to advance the development of our project in Morocco."
The private placement will be subject to standard regulatory approvals and conditions, including, but not limited to, the receipt of all necessary approvals of the TSX Venture Exchange. All securities issued under the private placement will be subject to a statutory four-month hold period in accordance with applicable Canadian securities laws. No commissions will be payable in connection with the private placement. The proceeds from the private placement will be used to continue the development of the Morocco anode plant and general working capital requirements.
The company expects that insiders of the company may participate in the private placement. The extent of insider participation, if any, has not been determined at this time. Any insider participation will be disclosed in accordance with the policies of the TSX-V and applicable securities laws.
About Falcon Energy Materials PLC
Falcon Energy Materials is aiming to be the premier provider of natural coated spheronized purified graphite, a critical component for energy storage solutions. As a dedicated chemical refiner of natural graphite concentrate, Falcon is working diligently toward the development of a state-of-the-art 25,000-tonne-per-year CSPG production facility in Morocco.
Strategically partnered with leading Chinese technology firms and Tier 1 Moroccan partners, Falcon benefits from advanced technological expertise, access to high-quality raw materials and chemicals, and a prime geographical location -- factors that will enable it to deliver consistent, high-quality supply to global markets.
With a clear focus on sustainable growth and innovation, Falcon aims to become the go-to producer of natural CSPG, supporting widespread adoption in energy storage and other emerging industries.
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