Miscellaneous (Posted By Soly)

posted on Mar 24, 14 11:48PM Use the IP Check tool [?]

Falcon Oil 31,887,500 warrants extended

2014-03-24 17:39 ET - Miscellaneous

The TSX Venture Exchange has consented to the extension in the expiry date of the following warrants.

Private placement

Number of warrants: 31,887,500

Original expiry date of warrants: April 8, 2014

New expiry date of warrants: Oct. 8, 2014

Exercise price of warrants: 18 cents

These warrants were issued pursuant to a private placement of 87,049,999 shares with 65,287,500 share purchase warrants attached, which was accepted for filing by the exchange effective April 14, 2011.

Soly – Please Note 6i of the Annual Information Form which was release 4.29.14 indicates the warrantswere canceled. Please Clarify if you can – Thanks Oilman

Falcon Oil & Gas Ltd.

Annual Information Form

For the Fiscal Year Ended 31 December 2013 275.

DIVIDENDS &DISTRUIBUTIONS

Falcon has not declared any dividends on the Common Shares. Given the Group’s current exploration stage, the Board does not anticipate paying any dividends in the foreseeable future. Any future determination to pay dividends will be at the discretion of the Board and will depend upon Falcon’s financial condition, results of operations, capital requirements and such other factors as the Board deems relevant.

6. DESCRIPTION OF CAPITAL STRUCTURE

The following is a summary of the Company’s outstanding share data as at 31 December 2013:

Class of securities

31 December 2013

Common shares

921,537,517

Stock options

34,952,000

Private placement warrants

(i)

65,287,500

Hess warrants

(ii)

10,000,000

(i) Warrants to purchase 65,287,500 Common Shares at a price of CDN$0.18 per Common share were issued to shareholders in 2011 in connection with the Falcon private placement.The warrants expired in 2014. The warrantswere not exercised.

(ii) Warrants to purchase 10,000,000 Common Shares at a price of CDN$0.19 per Common share were issued to Hess on 13 July 2011 in connection with the Hess transaction. The Hess warrants expire on 13 January 2015.