G2 Goldfields Closes C$22.05 Million Strategic Investment by AngloGold Ashanti

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[{"type":"text","content":" TORONTO, Jan. 19, 2024 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSXV:GTWO, OTCQX:GUYGF) is pleased to announce that it has closed the previously announced strategic investment by AngloGold Ashanti plc (“AGA”) of 24,500,000 common shares of the Company (the “Shares”) at a price of $0.90 per Share for aggregate gross proceeds of $22,050,000 (the “Strategic Investment”). The net proceeds from the Strategic Investment are expected to be used to advance exploration activities at the Company’s Oko project in Guyana and for working capital and general corporate purposes. In connection with the Strategic Investment, the Company and AGA entered into an investor rights agreement pursuant to which AGA was granted pre-emptive and top-up rights for future security issuances by G2. Roth Canada, Inc. and Cormark Securities Inc. acted as finders in connection with the Strategic Investment and were paid a cash commission equal to 6% of the aggregate gross proceeds of the Strategic Investment. The Shares were sold on a private placement basis to AGA in the United States pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “1933 Act”) and pursuant to one or more exemptions from the prospectus requirements under Canadian securities laws. The Shares are subject to a four-month hold period in accordance with Canadian securities laws. The Shares have not and will not be registered under the 1933 Act and may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the 1933 Act) unless the securities have been registered under the 1933 Act or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the 1933 Act, and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. The Strategic Investment is subject to the final acceptance of the TSX Venture Exchange (“TSXV”). About G2 Goldfields Inc. The G2 Goldfields team is comprised of professionals who have been directly responsible for the discovery of millions of ounces of gold in Guyana as well as the financing and development of the Aurora Gold Mine, Guyana’s largest gold mine. G2 announced its maiden mineral resource estimate on the newly discovered Oko property in G...

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