Business
GFG Announces C$2.5 Million Flow-Through Private Placement
SASKATOON, Saskatchewan, April 03, 2025 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces a private placement of premium flow-through units ("Premium Units") to raise gross proceeds of up to C$2.5 million (the “Offering”). As part of the Offering, the Company is pleased to announce that Alamos Gold Inc. (TSX: AGI; NYSE: AGI) has committed to purchase securities in the Offering to maintain their position at a 10.8% interest in the Company upon co
About this update from Gfg Resources, Inc.
[{"type":"image","alt":"GFG Resources Inc.","displaySize":"","headline":null,"caption":"GFG Resources Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":170,"height":29,"url":"https://media.zenfs.com/en/globenewswire.com/eaadfe0d888b2f6630509a30d3235080"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/tYkrbe90rtEOHVU6OzlpEw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIxMDtoPTM2O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/eaadfe0d888b2f6630509a30d3235080","width":170,"height":29}},"lazy":false},{"type":"text","content":"SASKATOON, Saskatchewan, April 03, 2025 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces a private placement of premium flow-through units ("Premium Units") to raise gross proceeds of up to C$2.5 million (the “Offering”). As part of the Offering, the Company is pleased to announce that Alamos Gold Inc. (TSX: AGI; NYSE: AGI) has committed to purchase securities in the Offering to maintain their position at a 10.8% interest in the Company upon completion of the Offering.","length":535,"tagName":"p"},{"type":"text","content":"Brian Skanderbeg, President and CEO of GFG commented, "With the support of our largest shareholder, the current financing enables us to step-up our exploration efforts and leverage cost-effective flow-through capital. Upon completion of this financing, GFG will be in a very strong financial position, allowing us to continue to capitalize on opportunities and build value for our shareholders.”","length":400,"tagName":"p"},{"type":"text","content":"The Offering will consist of the issuance of up to 9,201,325 Premium Units at a price of C$0.2717 per Premium Unit. Each Premium Unit shall consist of one common share of the Company and one-half of one share purchase warrant, with each whole share purchase warrant (a “Warrant”) entitling the holder thereof to acquire one additional common share of the Company at an exercise price of C$0.28 for a period of 24 months from the date of issuance. Each of the common shares and Warrants comprising the Premium Units will qualify as a “flow-through share” for the purposes of the Income Tax Act (Canada).","length":602,"tagName":"p"},{"type":"text","content":"If during the exercise period of the Warrants the closing price of the common shares of the Company is at a price equal to or greater than ...