GFG Resources - President and CEO, Brian Skanderbeg.
President and CEO, Brian Skanderbeg.
Source: The Star Phoenix.
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  • GFG Resources (GFG) has announced a private placement to raise gross proceeds of up to $2.0 million
  • The offering will consist of any combination of three parts. The first will consist of units for $0.11
  • The second will consist of flow-through common shares for $0.13
  • The third will consist of premium units for $0.16
  • GFG Resources Inc. is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming
  • GFG Resources Inc. opened the day’s trading at $0.125 per share

GFG Resources (GFG) has announced a private placement to raise gross proceeds of up to $2.0 million.

The offering will consist of three components. The first will be the sale of units for $0.11 per unit. The second is the sale of flow-through common shares for $0.13 per FT share. The third is the sale of premium units of the company for $0.16 per premium unit.

Each unit shall be made up of one common share and one-half of one share purchase warrant. Each whole purchase warrant will entitle the holder to acquire one additional common share for a period of 24 months from the date of issuance.

Each premium unit shall consist of one FT share and one-half of one warrant.

The net proceeds from the offering will be used for exploration activities on the company’s projects in Ontario and general working capital purposes.

Following two drill programs at the Montclerg Gold Project and recent prospecting efforts completed on the Goldarm Property located east of the Timmins Gold District, the company believes that it is evident that a much more aggressive program is warranted.

The funds raised in this offering will focus on completing a 4,000 to 6,000 metre drill program to infill and grow the Montclerg gold system and test several regional targets that the company has in its drill target pipeline.

The offering is scheduled to close on or about September 27, 2022.

GFG Resources Inc. is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming.

GFG Resources Inc. opened the day’s trading at $0.125 per share.


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