Mr. Karim Rayani reports
EARLY WARNING PRESS RELEASE REGARDING INVESTMENT IN FALCON GOLD
R7 Capital Ventures Ltd., an investment company wholly owned by Karim Rayani, acquired an aggregate of two million units, with each unit comprising one common share and one share purchase warrant of Falcon Gold Corp. for a two-year period at a price of five cents pursuant to a private placement. Mr. Rayani also acquired an aggregate of 360,000 common shares of Falcon Gold by way of series of open-market purchases dated Oct. 8, 2019.
Mr. Rayani personally, and through his company, holds 4,324,000 shares, representing 8.3 per cent of the issued and outstanding common shares of the company. After the issuance of the common shares, pursuant to the transaction, the acquiror now owns or controls an aggregate of 6,324,000 common shares of the company, which represent 10.8 per cent of the issued and outstanding common shares. The purchased securities were acquired by the acquiror at an average price of 4.2 cents per share for a aggregate of $266,200. Prior to the purchased units, Mr. Rayani also held 375,000 share purchase warrants, entitling him to acquire a further 375,000 shares of the company, and incentive stock options entitling him to acquire a further 200,000 shares. Mr. Rayani now owns or has control or direction over (8,899,000 common shares representing approximately 14.6 per cent) of the issued and outstanding common shares of the company, assuming exercise of all warrants and options held by Mr. Rayani.
The shares were acquired by Mr. Rayani for investment purposes. Mr. Rayani may acquire additional securities of Falcon Gold either on the open market, or through private acquisitions, or sell securities of Falcon Gold either on the open market, or through private dispositions, in the future depending on market conditions, reformulation of plans and or relevant factors. Other than the foregoing, Mr. Rayani does not have any plans or any future intentions that relate to, or would result in, any of other foregoing matters.
About Falcon Gold Corp.
Falcon is a Canadian mineral exploration company focused on generating, acquiring and exploring opportunities in the Americas.
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