11/30/2021
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Nov. 30, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has closed the oversubscribed, private placement financing (the “ Offering ”) (see news release dated November 9, 2021) for gross proceeds of C$3,114,653.
Pursuant to the Offering, the Company issued (i) 6,501,514 units of the Company (“Units”) at a price of C$0.145 per Unit for gross proceeds of C$942,719 ; (ii) 6,261,676 common shares of the Company that will qualify as "flow-through shares" for the purposes of the Income Tax Act (Canada) (“FT Shares”) at a price of C$0.17 per FT Share for gross proceeds of C$1,064,484 ; and (iii) 5,350,000 premium units of the Company (“Premium Units”) at a price of C$0.207 per Premium Unit for gross proceeds of C$1,107,450 . Each Unit consists of one common share of the Company (which shall not be a “flow-through share”) and
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11/09/2021
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Nov. 09, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces a private placement to raise gross proceeds of up to C$3.0 million (the “ Offering ”). The Offering will consist of any combination of (i) units of the Company (“Units”) at a price of C$0.145 per Unit; (ii) common shares of the Company that will qualify as "flow-through shares" for the purposes of the Income Tax Act (Canada) (“FT Shares”) at a price of C$0.17 per FT Share; and (iii) premium units of the Company (“Premium Units”) at a price of C$0.207 per Premium Unit, subject to maximum aggregate gross proceeds of C$3.0 million of which at least C$1.0 million will be raised through the issuance of Units. Each Unit shall consist of one common share of the Company (which shall not be a “flow-through share”) and one-half of one share purchase warrant, with each whole share
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11/08/2021
SASKATOON, Saskatchewan, Nov. 08, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has initiated its Phase 1 3,000 metre (“m”) drill program testing bulk tonnage and high-grade vein targets at its Montclerg Gold Project (the “Project” and/or “Montclerg”). Drilling is anticipated to continue into December, with planning in progress for a more extensive H1 2022 program.
The Montclerg Gold Project is located 48 kilometres (“km”) east of the prolific Timmins Gold Camp and is adjacent to multiple current and historic gold mines ( See Figure 1 ). The Project consists of patented and unpatented mining claims that cover 10 km of the highly prospective Pipestone Deformation Zone ( See Figure 2 ). GFG recently closed the acquisition of the Project, and in parallel with the drill program, will advance a systematic exploration program to evaluate and improve the property scale understanding. Brian Skanderbeg, President and CEO
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10/25/2021
SASKATOON, Saskatchewan, Oct. 25, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces that the Company has completed its initial obligations pursuant to its previously announced definitive agreement (the “Agreement”) with International Explorers and Prospectors Inc. (“IEP”) to acquire a 100% interest in the Montclerg Gold Project (and/or the “Project”) (see news release: “ GFG Expands Presence in Timmins - Acquires the Montclerg Gold Project East of the Prolific Timmins Gold District ”). Under the terms of the Agreement, GFG has the right to acquire 100% of the Project by completing a series of staged equity payments, transferring assessment credits and spending C$1.0 million in exploration expenditures over the next 24 months.
The Montclerg Gold Project is located 48 kilometres (“km”) east of the prolific Timmins Gold Camp ( See Figure 1 ) and consists of five patented mining claims and 110 unpatented mining claims. The
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10/05/2021
SASKATOON, Saskatchewan, Oct. 05, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) with International Explorers and Prospectors Inc. (“IEP”) to acquire a 100% interest in the Montclerg Gold Project (and/or the “Project”).
The Montclerg Gold Project is located 48 kilometres (“km”) east of the prolific Timmins Gold Camp and is surrounded by multiple current and historic gold mines ( See Figure 1 ). The Project consists of five patented mining claims and 110 unpatented mining claims that cover 10 km of the highly prospective Pipestone Deformation Zone ( See Figure 2 ) which hosts multiple gold deposits and mines in one of the most prolific gold districts in the world. Brian Skanderbeg, President and CEO of GFG, commented, “The acquisition of the Montclerg Gold Project is a great opportunity to add a more advanced and drill ready exploration
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07/26/2021
SASKATOON, Saskatchewan, July 26, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) is pleased to announce that it has closed the previously announced option and earn-in agreement (the “Agreement”) with Group 11 Technologies Inc. (“Group 11”), a privately-owned corporation, to advance GFG’s Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States (see news release: “ GFG Signs Option Agreement with Group 11 Technologies to Advance the Rattlesnake Hills Gold Project with Disruptive Technology ”). Under the terms of the Agreement, Group 11 has the right to acquire, in multiple stages, up to 70% of the Project by completing a series of exploration and development expenditures (“Expenditures”) summarized below and making staged cash and equity payments to GFG.
“We are thrilled to see the investor support for Group 11 as it embarks on the initial stages of testing at our Rattlesnake Hills Gold Project with a technology
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06/29/2021
SASKATOON, Saskatchewan, June 29, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) reports the initial drill results from its recently completed 5,800 metre (“m”), Phase 1 2021 drill program at its 100% owned Pen Gold Project (“Pen” or the “Project”) located west of the prolific Timmins Gold District in Ontario. During its Phase 1 drill program, the Company completed a total of 17 holes at the Slate Rock, R66, Boundary, Keith South and Sewell North prospects ( see Figure 1 ). Assay results for 12 holes have been received and are described herein, with assays for the remaining five holes to be released as they become available. “Our aggressive Phase 1 drill program was able to confirm several productive gold systems that deserve further attention and drilling,” stated Brian Skanderbeg, President and CEO. “Specifically, we are pleased that we were able to demonstrate lateral continuity at Boundary, which is a key test on an early-stage
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05/18/2021
SASKATOON, Saskatchewan, May 18, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) provides an update on its on-going exploration program at its 100% owned Pen Gold Project in Ontario, Canada.
The Pen Gold Project is located approximately 40 km west of the prolific Timmins Gold District in Ontario. The contiguous land package, one of the largest in the region, consists of approximately 475 square km and is situated between Newmont’s Borden Gold Mine and Pan American Silver’s Timmins West Mine. The Pen Gold Project covers an approximately 55-kilometre-long section of Archean greenstone that contains the interpreted western extension of the Porcupine-Destor Fault Zone within the same geological setting that hosts many of the gold deposits found in the Timmins Gold Camp. In 2021, the Company plans to drill 8,000 – 10,000 metres in two phases and complete additional till sampling and drone geophysics in regions where the Company is
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04/14/2021
SASKATOON, Saskatchewan, April 14, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) is pleased to announce that it has signed an option and earn-in agreement (the “Agreement”) with Group 11 Technologies Inc. (“Group 11”), a privately-owned corporation, to advance GFG’s Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States. Under the terms of the Agreement, Group 11 has the right to acquire, in multiple stages, up to 70% of the Project by completing a series of exploration and development expenditures (“Expenditures”) summarized below and making staged cash and equity payments to GFG.
Group 11 is led by a group of technical pioneers and experts in the development and application of in-situ recovery (“ISR”) with significant experience operating in Wyoming. Group 11’s goal is to combine, a non-invasive extraction technology with an environmentally friendly water-based chemistry to recover gold and other metals,
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04/06/2021
SASKATOON, Saskatchewan, April 06, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) is pleased to announce that Lisa Riley has been appointed as an independent member to the Board of Directors (the “Board”). In addition, the Company is pleased to welcome Carl Edmunds as a strategic technical advisor.
“On behalf of GFG, I am pleased to welcome Lisa and Carl to the team. The combination of these two individuals will strengthen our strategic planning and technical depth as we strive to be a North American gold exploration leader,” stated Patrick Downey, Chair of the Board. “Lisa brings significant experience in global capital markets, stakeholder relations and finance. Carl’s significant technical expertise and vast experience across the Abitibi will undoubtedly provide value in our quest to make the next gold discovery.” Board Addition – Lisa Riley
Lisa has nearly 30 years of experience in global capital markets, finance, mining
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02/24/2021
Highlights:
Discovered gold mineralization on first pass drill testing of the Boundary Trend from hole PEN-20-070 (4.66 g/t Au over 1.2 m and 5.02 g/t Au over 0.7 m); Demonstrated that the Broadway Prospect is prospective over a 1.2 km trend from 600 m step-out hole that hit 5.43 g/t Au over 0.5 m; Hit multiple zones of broad gold mineralization along strike at the Nib Prospect in hole PEN-20-061 (0.81 g/t Au over 10.0 m) and hole PEN-20-062 (6.27 g/t Au over 1.0 m and 0.92 g/t Au over 13.0 m); 2021 winter drill program of 4-5,000 m has begun. Priority drill targets include Slate Rock and R66 followed by Boundary, Sewell North and Nib; and Announces fully funded 2021 exploration program of approximately C$3.0 million that includes 8-10,000 m of drilling.
SASKATOON, Saskatchewan, Feb. 24, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) reports the remaining results from its Phase 2 2020 drill program at its 100% owned Pen
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02/16/2021
SASKATOON, Saskatchewan, Feb. 16, 2021 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) pursuant to the Company’s annual executive compensation program, the Company announced that it has granted stock options to officers, employees and senior consultants to purchase up to an aggregate of 1,245,000 common shares of the Company. The stock options have various vesting periods and are exercisable for a period of five years at a price of $0.165 per common share.
The Company is also pleased to announce that the Company’s President and CEO and its Board of Directors will maintain their reduced annual cash compensation in a continued effort to maximize the Company’s in-the-ground exploration expenditures. In lieu of the reduced compensation, the Company will grant the President and CEO and its Board of Directors stock options to purchase an aggregate of 651,241 common shares of the Company. These options vest over the next four quarters,
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