Falcon Oil & Gas Ltd - Results of Fundraising
Falcon Oil & Gas Ltd (AIM: FOG, TSXV: FO.V), the international oil and gas company engaged in the exploration and development of unconventional oil and gas assets, is pleased to confirm the results of the proposed Fundraising announced by the Company on 18 April 2024.
- Falcon Oil & Gas Ltd (AIM: FOG, TSXV: FO.V), the international oil and gas company engaged in the exploration and development of unconventional oil and gas assets, is pleased to confirm the results of the proposed Fundraising announced by the Company on 18 April 2024.
- As previously announced, alongside the Fundraising, Falcon Oil & Gas Australia Limited (“Falcon Australia”) has agreed to grant Daly Waters Energy, LP (“Daly Waters”) and a major US-based energy industry service provider overriding royalty interests (“ORRIs”) over Falcon Australia’s working interests in the Beetaloo Sub-Basin exploration permits in return for cash payments of US$3 million and US$1 million, respectively.
- Thomas Layman, a Director of the Company, participated in the Fundraising.
- The number of New Common Shares conditionally subscribed for by him pursuant to the Subscription, and his resulting shareholding on First Admission, is set out below: