Falcon Oil & Gas Ltd. has announced a proposed fundraising initiative to raise gross proceeds of approximately $8.5 million. The company plans to achieve this through a conditional placing of new Common Shares with institutional investors and direct subscriptions for new Common Shares by certain new and existing investors. The Placing Shares will be priced at 6p per share, with the aim of raising up to US$4.5 million. The company is engaged in the exploration and development of unconventional oil and gas assets. For full details, the press release is available on the company's main website.