Falcon Oil & Gas Ltd (UK) (TSE:FO) has released an update.
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Falcon Oil & Gas Ltd has successfully raised approximately $4.9 million through a combination of subscriptions and placements, equivalent to issuing 64,794,087 new shares at 6p each. Additionally, the company’s Australian subsidiary has arranged to grant overriding royalty interests on its Beetaloo Sub-Basin exploration permits, which will contribute further cash payments of $4 million. These financial moves, combined with existing resources, aim to support Falcon’s exploration and development activities.
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