The company will list at 2pm AEDT.
Falcon raised A$30 million in an initial public offering managed by Bell Potter Securities.
An in-specie distribution of one Falcon shares for every three Chalice shares was made to Chalice shareholders last week, with the Australian Taxation Office to make a class ruling on the implications in the coming weeks.
The company was demerged to allow Chalice to focus on its world-class Julimar nickel-copper-PGE project outside Perth.
Falcon's flagship asset will be the 5000sq.km Pyramid Hill gold project near Bendigo in Victoria.
The company is being chaired by S2 Resources chairman Dr Mark Bennett, with Tim Markwell as managing director.
Chalice MD Alex Dorsch will be a non-executive director.
The Victorian government estimates there is still 32 million ounces of gold yet to be discovered under Murray Basin sedimentary cover.
Falcon plans to spend $15.35 million on exploration at Pyramid Hill in the two years after listing.
Eligible Chalice shareholders will receive one Falcon share for every three Chalice shares held via an in-specie distribution and will also be entitled to subscribe for one Falcon share for every 5.8 Chalice shares held via a priority offer.
Falcon will also hold two projects in Western Australia: the Mt Jackson gold project and the Viking project, where Chalice has been earning 70% from Metal Hawk.
"Falcon Metals is excited by the opportunity to further explore the gold projects spun out by Chalice," Markwell said.
"All of them are in areas considered highly prospective for gold discoveries, with Pyramid Hill particularly noteworthy due to its location in the Bendigo goldfield and proximity to Fosterville, while Viking and Mount Jackson are also very promising. We believe our experienced team can help us further develop these assets and unlock their potential value.
"We have built a dedicated board and management team, with many years of collective experience in the resources industry, a track-record of ‘company making' discoveries including Julimar, Nova- Bollinger, Thunderbox, and Waterloo, and financing projects through development."
Chalice founder and former chairman Tim Goyder holds about 7.9% of Falcon.
