Falcon Oil & Gas to offer units of 11% convertibles and shares

By Susanna Moon

Chicago, May 26 - Falcon Oil & Gas Ltd. said it filed a preliminary prospectus for a sale of units.

Falcon will sell units of one share and one 11% convertible unsecured debenture at C$1,000 each.

The notes have a principal amount of C$900 each and will mature in four years.

Salman Partners Inc. is the agent.

Falcon expects to use proceeds for development of its properties in Hungary and for general working capital.

The offer is expected to close on June 16.

Falcon is an oil and natural gas exploration and development company based in Toronto.

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