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GFG Resources Announces Updated Warrant Amendments
SASKATOON, Saskatchewan, June 28, 2024 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it proposes to
About this update from Gfg Resources, Inc.
[{"type":"text","content":" SASKATOON, Saskatchewan, June 28, 2024 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it proposes to further amend the common share purchase warrants (“Warrants”) of the Company originally issued on October 6, 2022, March 21, 2023 and April 19, 2024 (the \"Proposed Amendments\"). An aggregate of 5,692,359 Warrants were issued on October 6, 2022; 12,379,150 Warrants were issued on March 21, 2023; and 12,561,345 Warrants were issued on April 19, 2024. As previously announced, the terms of the Warrants originally issued on October 6, 2022 and March 21, 2023 were recently amended to extend the expiry date to April 19, 2027, as well as to amend the exercise price to $0.13. The Proposed Amendments will provide that in the event that the closing price of the common shares of the Company is equal to or greater than $0.18 for a period of 10 consecutive trading days, the Company will have the right to accelerate the expiry date of any of the Warrants by giving notice, via a news release, to the holders of such Warrants that such securities will expire on the date that is 30 days after the issuance of such news release. An aggregate of 1,836,961 Warrants are held by insiders of the Company. The Proposed Amendments remain subject to the approval of the TSX Venture Exchange. About GFG Resources Inc. GFG is a North American precious metals exploration company focused on district scale gold projects in a tier one mining jurisdiction. The Company operates three gold projects, each large and highly prospective gold properties within the prolific gold district of Timmins, Ontario, Canada. The projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold. For further information, please contact: Marc Lepage, Vice President, Business Development Phone: (306) 931-0930 Email: [email protected]: www.gfgresources.com Stay Connected with UsX (Twitter): https://twitter.com/gfgresourcesLinkedIn: https://www.linkedin.com/company/gfgresources/Facebook: https://www.facebook.com/GFGResourcesInc/ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy o...