Falcon is a global energy company with projects in Hungary, Australia & South Africa

Developing large acreage positions of unconventional and conventional oil and gas resources

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From the MD&A March 31, 2010

As of May 24, 2010, $4,896,000, a portion of the proceeds from the Offer, has been received. Closing of this portion of the Offer and release of funds are pending, subject to final approval by the TSXV. The funds are to be utilized exclusively by Falcon Australia.

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