Falcon Gold Corp: Falcon Reports Regulatory Acceptance of Option Agreement on Esperanza Gold/Silver/Copper Project in La Rioja, Argentina
FALCON GOLD CORP.
(FG:TSX-V), (3FA:GR), (FGLDF:OTC PINKS); ("Falcon" or the "Company") is pleased to report the TSX Venture Exchange has accepted and approved the option to acquire up to a 100% interest in the Esperanza Gold, Silver, Copper minerals concessions located in La Rioja Province, Argentina.
The New Option Agreement
Under the Agreement to earn its initial 80% interest, the Company has agreed to make payments to the Vendors over a four-year option period totalling 500,000 Falcon common shares and 500,000 share purchase warrants. Each Warrant will entitle the Vendor to purchase one Falcon common share for a period of 12 months for a purchase price set on each date of issue at 125% of the closing price for Falcon shares traded on the Toronto Venture Exchange. During the four-year option period, Falcon is to make minimum expenditures on the Property amounting to US$350,000.