Falcon Oil & Gas Ltd. has received conditional approval from the TSX Venture Exchange for the second tranche of the Subscription by Sheffield Holdings LP. This approval has led to the issuance of 6,638,597 New Common Shares to Sheffield Holdings LP at an Issue Price of 0.06p per share. This increases Sheffield Holdings LP's aggregate interests to 116,386,398 Common Shares, representing 10.49% of the enlarged issued share capital. More details can be found on the company's main website homepage under the Investor Centre section.