12/16/2024
SASKATOON, Saskatchewan, Dec. 16, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces the closing of the sale (the “ Transaction ”) of its 100% owned Rattlesnake Hills Gold Project (the “ Project ”) to Patriot Gold Vault Ltd., (“ Patriot ”) a wholly owned subsidiary of Axcap Ventures Inc. (“ Axcap ”). Under the terms of the Transaction, Patriot will pay GFG an aggregate consideration of approximately C$3.3 million. “We are pleased to finalize the sale of our Rattlesnake Hills Gold Project as part of our strategy and commitment to maximize value for our shareholders”, stated Brian Skanderbeg, President and CEO of GFG. “This transaction not only provides GFG with exposure to future exploration success on the property through equity and milestone payments, but also allows us to benefit from the majority of the compensation being in cash. Coupled with our recent warrant exercise, this deal significantly bolsters our balance sheet,
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12/11/2024
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Dec. 11, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces that it has received total proceeds of C$3,712,528 million from the exercise of 28,557,907 common share purchase warrants (“ Warrants ”) of the Company, which expired December 9, 2024. The Warrants were originally issued on October 6, 2022, March 21, 2023 and April 19, 2024. In connection with the exercise of warrants, Alamos Gold Inc. (“Alamos”) ( TSX: AGI; NYSE: AGI ) has exercised 5,343,302 warrants for a total consideration of C$694,629. As of today, the Company currently has nil Warrants outstanding. Brian Skanderbeg, President and CEO of GFG commented, “We are grateful for the unwavering support and confidence our shareholders have shown by exercising their Warrants. Our management team and Board of Directors have also demonstrated their commitment by exercising their
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11/28/2024
KEY HIGHLIGHTS: ALJ-24-014 intersected three new high-grade intervals 200 metres (m) northwest of the Aljo mine, returning 9.94 grams of gold per tonne (“g/t Au”) over 2.9 m, 10.4 g/t Au over 0.7 m and 6.41 g/t Au over 1.1 m, confirming strong proximal discovery potential. ALJ-24-013 returned nine distinct vein intervals including 2.48 g/t Au over 1.3 m and 2.55 g/t Au over 1.5 m, extending the Main Zone 100 m to the southwest and confirming the stacked nature of the vein systems. ALJ-24-016 drilled 200 m east of the Aljo mine, intersected quartz-carbonate veinlets with assays of 1.02 g/t Au over 1.2 m, 1.70 g/t Au over 2.0 m, and 3.19 g/t Au over 0.6 m, extending the strike length of the Aljo system to 600 m and supporting an extension to the east. An aggressive follow-up drill program at Aljo has been launched with a 2,500 m (11 holes) program focused on targeting the depth extensions of the Footwall, Main and Hangingwall Zones. SASKATOON, Saskatchewan, Nov. 28, 2024 (GLOBE
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11/07/2024
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Nov. 07, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces today that it is electing to accelerate the expiry of outstanding share purchase warrants (“ Warrants ”) of the Company originally issued on October 6, 2022, March 21, 2023 and April 19, 2024. In connection with the acceleration of warrants, Alamos Gold Inc. (“Alamos”) ( TSX: AGI; NYSE: AGI ) has exercised 5,343,302 warrants for a total consideration of C$694,629. In addition to Alamos, a large majority of warrant holders have confirmed their intent to exercise.
Pursuant to the terms of the Warrants, the Company may accelerate the expiry date of the Warrants if the closing price of the Company’s common shares on the TSX Venture Exchange equals or exceeds C$0.18 for 10 consecutive trading days (the “ Acceleration Period ”), to the date which is 30 days following the
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09/05/2024
KEY HIGHLIGHTS:
Following the previously released intercept of 13.94 grams of gold per tonne (“g/t Au”) over 7.1 metres (“m”) GFG confirms second high-grade zone and deepest ever intercept in the Main Zone from the first hole of the H1 drill program at Aljo Mine Target (“Aljo”). Drilled the best intercept to-date at Aljo in hole ALJ-24-012 returning 23.08 g/t Au over 7.6 m with significant visible gold and tellurides. Demonstrates continuity and much higher-grade of the Aljo Main Zone approximately 85 m down-dip from 2023 drill intercept of 3.65 g/t Au over 6.3 m and 160 m down-dip from historical drill intercept of 9.86 g/t Au over 8.0 m (1) . Assay results for remaining 4 holes are outstanding with additional logged instances of visible gold beyond the footprint of historic mine workings. SASKATOON, Saskatchewan, Sept. 05, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) reports the best drilled intercept in the history of the
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08/19/2024
KEY HIGHLIGHTS:
Completed 1,700 metre (“m”) H1 drill program in 5 holes at the Aljo Mine Target (“Aljo”). Drilled the best intercept to-date at the Aljo Hanging wall (“HW”) Zone in hole ALJ-24-012 returning 13.94 grams per tonne gold (“g/t Au”) over 7.1 m with significant visible gold and tellurides. Assay results below 120 m depth from hole ALJ-24-012 remain outstanding with multiple other logged instances of visible gold beneath historic mine workings. Results are expected to be received soon and will be released once available. Remaining Aljo holes 2-4 (80-100 m step-outs) intersected several well mineralized zones with results pending. Focused exploration continues to advance the new Muskego Gold Target (“Muskego”) at the Pen Gold Project toward first diamond drill hole testing. Associated new targets are emerging. Register for a live investor webinar to discuss the results on Tuesday, August 20, 2024, at 12:00 PM Eastern Time. SASKATOON, Saskatchewan, Aug. 19, 2024 (GLOBE
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08/16/2024
SASKATOON, Saskatchewan, Aug. 16, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces the signing of a definitive agreement (the “ Agreement ”) for the sale of its 100% owned Rattlesnake Hills Gold Project (the “ Project ”) to Patriot Gold Vault Ltd., (“ Patriot ”). Under the terms of the Agreement, Patriot will pay GFG an aggregate consideration of approximately C$3.3 million (the “ Transaction ”). GFG and Patriot had previously announced the signing of a letter of intent (“ LOI ”) on May 9, 2024 ( see press release: “GFG Signs Binding LOI with Patriot Gold to Sell its Rattlesnake Hills Gold Project” ).
Transaction Terms
Patriot will acquire a 100% interest in the Project on the following terms: Cash payment of C$250,000 to GFG on signing of the binding LOI ( complete ); Cash payment of C$250,000 to GFG upon the execution and delivery of a definitive agreement ( pending ); On closing of the Transaction, Patriot
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06/28/2024
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES 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
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05/29/2024
KEY HIGHLIGHTS:
Resumes drilling with 1,500 m at the Aljo Mine Target (“Aljo”) to follow-up on high-grade gold intercepts of 3.65 grams of gold per tonne (“g/t Au”) over 6.3 metres (“m”), 13.35 g/t Au over 3.6 m and 6.58 g/t Au over 4.3 m. Discovers compelling new gold target within Pen Gold Project, Muskego, with sonic drill test intercepting significant mineralization in bedrock. Conducted regional black spruce bark sampling across Goldarm Project with 800 samples as first pass surface exploration program in areas of no historic work completed. Preliminary data from regional till sampling on Dore outlines new gold and base metal targets. SASKATOON, Saskatchewan, May 29, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces that it has initiated its 2024 drill program of approximately 6,000 m testing multiple targets across the Goldarm Property (“ Goldarm ”) and to test a new target within the Pen Gold Project (“ Pen ”)
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05/27/2024
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, May 27, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announced today that it proposes to extend the expiry dates and amend the exercise prices of the common share purchase warrants (“ Warrants ”) of the Company issued on October 6, 2022 and March 21, 2023 (the " Proposed Amendments "). After giving effect to the Proposed Amendments, each Warrant issued on October 6, 2022 and March 21, 2023 will (i) expire on April 19, 2027; and (ii) be exercisable to purchase one common share of the Company at an exercise price of $0.13 per common share. The existing and amended expiry dates and exercise prices are detailed in the table below: Date of Issuance Original Exercise Price Amended Exercise Price Original Expiry Date Amended Expiry Date October 6, 2022 $0.17 $0.13 October 6, 2024 (subject
to acceleration in certain
circumstances)
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05/09/2024
SASKATOON, Saskatchewan, May 09, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces the signing of a binding letter of intent (the “ LOI ”) for the sale of its 100% owned Rattlesnake Hills Gold Project (the “ Project ”) to Patriot Gold Vault Ltd., (“ Patriot ”). Under the terms of the LOI, which will be formalized by a definitive agreement between the parties within forty-five (45) days (the “Transaction” ), Patriot will pay GFG an aggregate consideration of approximately C$3.3 million.
“We are excited to announce our agreement with Patriot for the sale of our Rattlesnake Hills Gold Project,” stated Brian Skanderbeg, President and CEO of GFG. “The Patriot team's impressive track record gives us great confidence in their ability to drive the Project forward from both an exploration and development perspective. This deal enhances shareholder value through staged cash payments that strengthen our treasury while minimizing
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04/19/2024
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, April 19, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) has closed its private placement financing (the “ Offering ”) ( see news release dated February 23, 2024 ) for gross proceeds of C$2,505,866. In connection with the Offering, Alamos Gold Inc. (“Alamos”) ( TSX: AGI; NYSE: AGI ) purchased securities to maintain their 9.9% interest in the Company.
Pursuant to the Offering, GFG issued (i) 9,278,635 units of the Company (“Units”) at a price of C$0.085 per Unit for gross proceeds of C$788,684; (ii) 9,697,000 "flow-through" units (" FT Units ") at a price of C$0.10 per FT Unit for gross proceeds of C$969,700; and (iii) 6,147,059 premium units of the Company (“Premium Units”) at a price of C$0.1216 per Premium Unit for gross proceeds of C$747,482. Each Unit shall consist of one common share of the Company and one-half of one share
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04/16/2024
SASKATOON, Saskatchewan, April 16, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB:GFGSF) (“ GFG ” or the “ Company ”) announces that it has issued shares pursuant to the previously announced option agreement (the “ Agreement ”) with International Explorers and Prospectors Inc. (“ IEP ”) whereby GFG can acquire a 100% interest of the WWCC Property, located 40 kilometres east of Timmins, Ontario ( see news release: “ GFG Finalizes WWCC Property Acquisition East of the Prolific Timmins Gold District”) .
Pursuant to the Agreement, GFG issued a total of 2,500,000 common shares of the Company to IEP on April 12, 2024 at a deemed value of C$0.08 per common share based on the VWAP for the five previous trading days. The common shares issued will have a statutory hold period of four months and one day from the date of issuance. About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold projects in tier one
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04/08/2024
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, April 08, 2024 (GLOBE NEWSWIRE) - Canada: GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces that the Company has received approval from the TSX Venture Exchange to extend the closing of its previously announced non-brokered private placement financing (the “ Offering ”) ( see news release dated February 22, 2024 ). The Company anticipates closing the financing on or before April 19, 2024.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state
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03/08/2024
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, March 08, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announce that, due to a typographical error, it has filed an amended and restated offering document (“Form 45-106 F19”) dated March 8, 2024 (the “Amended and Restated Offering Document“) in connection with its previously announced private placement pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, previously announced on February 22, 2024 (see news release “ GFG Announces Private Placement Financing of up to C$3.3 Million ”)
About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company operates three gold projects, each large and highly prospective gold properties
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02/23/2024
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Feb. 23, 2024 (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$3.3 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 9.99% interest in the Company upon completion of the Offering.
The Offering will consist of any combination of (i) units of the Company (“Units”) at a price of C$0.085 per Unit; (ii) flow-through units of the Company (“FT Units”) at a price of C$0.10 per FT Unit; and (iii) premium units of the Company (“Premium Units”) at a price of C$0.1216 per Premium Unit, subject to maximum aggregate gross proceeds of C$3.3 million. Each Unit shall consist of one common share of the Company and one-half of one
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02/16/2024
SASKATOON, Saskatchewan, Feb. 16, 2024 (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 directors, officers, employees and senior consultants to purchase up to an aggregate of 3,590,000 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 $0.09 per common share, being the closing price on February 14, 2024. All options were granted pursuant to the Company’s stock option plan.
About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company operates three gold projects, each large and highly prospective gold properties within the prolific gold district of Timmins, Ontario, Canada. The
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02/15/2024
KEY HIGHLIGHTS:
Hole ALJ-23-004 returned broad zones of anomalous gold from surface to approximately 265 m downhole in mafic volcanics below the Aljo Mine workings along with high-grade zones with visible gold including: 3.65 grams of gold per tonne (“g/t Au”) over 6.3 metres (“m”) including 18.40 g/t Au over 1.1 m from 125.7 m downhole; and 13.35 grams g/t Au over 3.6 m, including 32.94 g/t Au over 1.4 m from 350.5 m downhole. A new footwall zone was intersected near the bottom of hole ALJ-23-004 (13.35 g/t Au over 3.6 m, including 32.94 g/t Au over 1.4 m), demonstrating that there is much more to the Aljo Mine system than historical data has indicated. Hole ALJ-23-011, a 200 m step-out from the Aljo Mine, returned multiple intervals of bulk tonnage gold mineralization in mafic volcanics with visible gold including 1.39 g/t Au over 19.0 m and 1.86 g/t Au over 17.5 m including 4.98 g/t Au over 3.6 m. Drilling is planned to resume in Q1 with a focus on following up on the
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01/17/2024
KEY HIGHLIGHTS:
Hole MTC-23-060 intercepted multiple near-surface lenses in the bulk tonnage MC Main Zone including 24.9 metres (“m”) of 1.05 grams of gold per tonne (“g/t Au”) and 41.8 m of 0.92 g/t Au at the Montclerg Gold Project (“Montclerg” or the “Project”). Hole MTC-23-062 returned one of the highest-grade intercepts drilled to-date within the bulk-tonnage style Main Zone of 3.09 g/t Au over 12.8 m and 1.16 g/t Au over 12.8 m near surface. Assay results (8 holes) from the Aljo Mine Target (“Aljo”) remain pending. Drilling is planned to resume in the first quarter with a primary focus at Montclerg and testing high-priority targets across the Goldarm Property. SASKATOON, Saskatchewan, Jan. 17, 2024 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) reports further gold assay results from the recently completed 2023 Phase 2 drill program at its Montclerg Gold Project, located 40 kilometres (“km”) east of Timmins, Ontario ( see
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