Falcon Oil & Gas Ltd. (TSX VENTURE:FO), the international oil and gas exploration and production company focused on unconventional and conventional oil and gas exploration and producing assets in Hungary, Australia and South Africa, announces that it has issued 300,000 common shares in the capital of the Company ("Common Shares") to Robert Macaulay, the former Chief Executive Officer of the Company. The Common Shares have been issued in consideration of services rendered to the Company pursuant to an employment agreement between the Company and Mr. Macaulay effective as of November 10, 2010, as amended. The Common Shares are subject to a one four month hold period that expires on May 2, 2013, in accordance with applicable securities legislation.
Engagement of FTI Consulting
The Company also announces that it has engaged FTI Consulting LLP ("FTI") effective May 21, 2012 to provide business communications services (the "Services"). The Services include bringing attention and exposure to the Company to help enhance and increase the Company's image and public awareness.
FTI is a global business advisory firm that provides multidisciplinary solutions to complex challenges and opportunities, and is headquartered in Florida, U.S.A.
FTI will provide Falcon with the Services until the agreement between the parties is terminated by either party on three months' written notice (except upon a change of control). Pursuant to the agreement between the parties, FTI will be paid a monthly fee commensurate with the market standard, with additional payments owing in relation to special projects.
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