Falcon Oil & Gas Ltd(Falcon, the Company or the Group)
TSX Venture Exchange Conditional Approval & Additional Subscription
7 May 2024 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG), the international oil and gas company engaged in the exploration and development of unconventional oil and gas assets, is pleased to confirm that it has received TSX Venture Exchange conditional approval for the second tranche of the Subscription by Sheffield Holdings LP, as previously announced on 22 April 2024.
Accordingly, the Company has today issued a further 6,638,597 New Common Shares to Sheffield Holdings LP at an Issue Price of £0.06p per share, taking the aggregate interests of Sheffield Holdings LP to 116,386,398 Common Shares, representing 10.49 per cent of the enlarged issued share capital.
Application for Admission It is expected admission of the New Common Shares to trading on AIM will become effective and dealings in those New Common Shares will commence on AIM at 8.00a.m. (London time) on 10 May 2024. The New Common Shares will not trade on the TSX Venture Exchange Market until the date that is four months and a day after the day of issuance.
The New Common Shares will, when issued, be subject to the articles of association of the Company and credited as fully paid and will rank equally in all respects with the existing Common Shares. The Company’s total issued share capital following Admission will be 1,109,141,512 Common Shares.
Ends.CONTACT DETAILS:
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| Falcon Oil & Gas Ltd. | +353 1 676 8702 |
| Philip O’Quigley, CEO | +353 87 814 7042 |
| Anne Flynn, CFO | +353 1 676 9162 |
| Cavendish Capital Markets Limited (NOMAD & Joint Broker) | |
| Neil McDonald / Adam Rae | +44 131 220 9771 |
| Tennyson Securities (Joint Broker) | |
| Peter Krens | +44 20 7186 9033 |
Capitalised terms used but not defined in the text of this Announcement shall have the meanings given to them in the announcements made by the Company at 12.30p.m.(London time) on 18 April 2024 and at 7.10a.m. (London time) on 22 April 2024.
About Falcon Oil & Gas LtdFalcon is an international oil and gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio…
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