NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
SASKATOON, Saskatchewan, March 21, 2023 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) ("GFG" or the "Company") has closed the oversubscribed, private placement financing (the "Offering") (see news releases dated February 17, 2023 and March 2, 2023) for gross proceeds of C$4,199,578. In connection with the Offering, Alamos Gold Inc. ("Alamos") (TSX: AGI; NYSE: AGI) purchased securities to increase their position to a 9.99% interest in the Company.
Pursuant to the Offering, GFG issued (i) 13,389,076 units of the Company ("Units") at a price of C$0.13 per Unit for gross proceeds of C$1,740,580; (ii) 2,250,000 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$0.15 per FT Share for gross proceeds of C$337,500; and (iii) 11,369,231 premium units of the Company ("Premium Units") at a price of C$0.1866 per Premium Unit for gross proceeds of C$2,121,498. Each Unit consists 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 purchase warrant (a "Warrant") entitling the holder thereof to acquire one additional common share of the Company (which shall not be a "flow-through share") at an exercise price of C$0.18 for a period of 36 months from the date of issuance. Each Premium Unit shall consist of one FT Share (a "Premium FT Share") and one-half of one Warrant.
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 $0.26 for a period of 10 consecutive trading days, GFG will have the right to accelerate the expiry date of the Warrants by giving notice, via a news release, to the holders of the Warrants that the Warrants will expire on the date that is 30 days after the issuance of said news release.
The gross proceeds raised from the sale of the FT Shares and Premium FT Shares will be used for exploration activities in Ontario that will qualify as "Canadian Exploration Expenses" (within the meaning of the Income Tax Act (Canada)). The net proceeds raised from the sale of the Units and the Warrants comprising, in part, the Premium Units, will be used for exploration activities on the Company's projects in Ontario as well as for general working capital purposes.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ("NI 45-106"), the Units, FT Shares and Premium Units have been offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the Listed Issuer Financing Exemption under Part 5A of NI 45-106. Because the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the securities issued to subscribers in the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document on Form 45-106F19 related to the Offering that can be accessed under the Company's profile at and on the Company's website at Prospective investors should read this offering document before making an investment decision.
Related Party Transaction
In connection with the Offering, the following officers, and directors of the Company (collectively the "Insiders"), Messrs. Brian Skanderbeg (President, CEO and Director), Brian Booth (Director), and Arnold Klassen (Director) have purchased a total of 76,923 Units and 200,000 FT Shares. Insiders' participation in the Offering constitutes a "related party transaction" pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is also relying on the exemption from minority shareholder approval requirements under MI 61-101, as the fair market value of the insiders' participation in the Offering does not exceed 25% of the market capitalization of the Company.
Alamos has agreed to purchase 6,384,615 Units at a price of C$0.13 by way of a share purchase agreement with a third party on March 21, 2023, for a total purchase price of C$829,999.95 (the "Transaction"). Prior to the closing of the Offering, Alamos held 14,424,389 common shares and 650,995 warrants of GFG, a security holding percentage of approximately 8.29%, on a partially diluted basis. Following the closing of the Offering, Alamos will have beneficial ownership of, or control and direction over 20,809,004 common shares and 3,843,303 warrants of GFG. Assuming exercise of the warrants, Alamos will have beneficial ownership of, or control and direction over 24,652,307 common shares or 11.63% of the issued and outstanding common shares of GFG calculated as of the date of the Offering on a partially diluted basis. Alamos acquired the Units for investment purposes, which will be evaluated and may be increased or decreased from time to time at Alamos' discretion. A copy of Alamos' early warning report will be available on the SEDAR website at or can be requested by contacting Scott K. Parsons, Senior Vice President, Investor Relations, at SParsons@alamosgold.com, 416-368-9932 (ext. 5439) or by mail at Brookfield Place, 181 Bay Street, Suite 3910, Toronto, Ontario M5J 2T3.
In connection with the Offering, the Company paid cash finder's fees on portions of the Offering totaling C$11,194.80.
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 securities laws, and may not be offered or sold within the United States unless an exemption from such registration is available.
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 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. The Company also owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 km southwest of Casper, Wyoming, U.S. In Wyoming, the Company has partnered with Group 11 through an option and earn-in agreement to advance the Company's Rattlesnake Hills Gold Project with a technology that could revolutionize the gold mining industry.
For further information, please contact:
GFG Resources Inc.
Brian Skanderbeg, President & CEO
or
Marc Lepage, Vice President, Business Development
Phone: (306) 931-0930
Email: info@gfgresources.com
Website:
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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 of this release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained in this news release constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as "forward-looking statements"). Forward-looking statements include, but are not limited to, disclosure regarding the completion of the Offering and potential gross proceeds to be raised pursuant thereto, the receipt of all applicable regulatory approvals, the prospective nature of the Company's property interests, exploration plans and expected results, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; planned use of proceeds, expenditures and budgets and the execution thereof. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, "may", "could", "would", "will", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the receipt of applicable regulatory approvals. availability of financing, the assumed long-term price of gold, that the current exploration and other objectives concerning its mineral projects can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; the continuity of the price of gold and other metals, economic and political conditions and operations; the prospective nature of the Company's properties, availability of financing, and that general business and economic conditions will not change in a materially adverse manner.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GFG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks and uncertainties related to the completion of the Offering as presently proposed or at all, the failure to obtain all applicable regulatory approvals; actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive.
Although GFG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and GFG assume no obligation to update any forward-looking statements, except as required by applicable laws.
不得在美国或通过美国通讯社传播
萨斯卡通,萨斯喀彻温省,2023年3月21日(环球通讯社)GFG Resources Inc.(多伦多证券交易所股票代码:GFG)(OTCQB:GFGSF)(“GFG“或”公司“)已完成超额认购、定向增发融资(The供奉“)(请参阅日期为的新闻稿2023年2月17日和2023年3月2日)毛收入为4,199,578加元。关于此次献礼,阿拉莫斯黄金公司(“阿拉莫斯”)(多伦多证券交易所:AGI;纽约证券交易所:AGI)购买证券,以增加他们在本公司的持仓至9.99%的权益。
根据是次发售,GFG发行(I)13,389,076股本公司(“单位”)每单位0.13加元的价格,总收益为1,740,580加元;(2)2,250,000股公司普通股,就《所得税法》(加拿大)(“金融时报”的股票)每股0.15加元的价格,总收益为337,500加元;及(Iii)公司11,369,231个溢价单位(“高级单位”)总收益为2,121,498加元,价格为每溢价单位0.1866加元。每个单位由一股本公司普通股(不得为“流通股”)及一份认购权证的一半组成,每份完整股份认购权证(“认股权证”)的持有人有权以0.18加元的行使价购入额外一股本公司普通股(不得为“流通股”),为期36个月,由发行日期起计。每个溢价单位应由一股FT股票组成(a“英国《金融时报》高级股票“)和一份认股权证的一半。
如果在认股权证行使期间,公司普通股的收盘价连续10个交易日等于或高于0.26美元,GFG将有权通过新闻稿通知认股权证持有人认股权证将于上述新闻稿发布后30天到期,从而加快认股权证的到期日。
出售FT股份和FT溢价股份所得的总收益将用于在安大略省的勘探活动,这些活动将符合资格为“加拿大勘探费用”(在《所得税法》(加拿大))。出售该等单位及部分包括溢价单位的认股权证所得款项净额,将用于本公司于安大略省项目的勘探活动及一般营运资金用途。
在遵守适用的监管规定及根据国家文书45-106-招股章程豁免(“NI 45-106”)的情况下,已根据NI 45-106第5A部下的上市发行人融资豁免,向居住于加拿大及/或其他合资格司法管辖区的买家出售单位、FT股份及溢价单位。由于是次发售是根据上市发行人融资豁免而完成,根据适用的加拿大证券法,在发售中向认购人发行的证券将不受持有期限制。在表格45-106F19上有一份与发售有关的发售文件,可于本公司网站及于本公司简介下查阅,潜在投资者在作出投资决定前应阅读本发售文件。
关联方交易
就是次发售,本公司下列高级人员及董事(统称为《知情人》)、董事首席执行官兼首席执行官布莱恩·斯坎德贝格、董事首席执行官布莱恩·布斯和董事首席执行官阿诺德·克拉森总共购买了76,923个单位和200,000股FT股票。根据多边文件61-101--在特殊交易中保护少数股权持有人(“MI 61-101”)。由于内部人士参与发售的公平市值不超过公司市值的25%,该公司还依赖MI 61-101规定的小股东批准豁免要求。
2023年3月21日,阿拉莫斯同意以0.13加元的价格购买6,384,615个单位,通过与第三方的股份购买协议,总收购价为829,999.95加元。交易记录“)。在发售结束前,Alamos持有14,424,389股普通股和650,995股GFG认股权证,按部分摊薄计算,证券持有率约为8.29%。发行结束后,Alamos将实益拥有或控制和指导GFG的20,809,004股普通股和3,843,303份认股权证。假设行使认股权证,Alamos将实益拥有或控制及指挥24,652,307股普通股,或占GFG已发行及已发行普通股的11.63%,按部分摊薄基准计算。Alamos出于投资目的收购了这些单位,将对其进行评估,并可由Alamos酌情决定不时增加或减少单位。阿拉莫斯公司的早期预警报告的副本可在国家能源署的网站上获得,也可以通过联系斯科特·K·帕森斯,高级副总裁,投资者关系部,电子邮件:SParsons@alamosGoldd.com,416-368-9932(内线)索取。5439)或邮寄至Brookfield Place,181 Bay Street,Suite 3910,Toronto,Ontario M5J 2T3。
与此次发行相关的是,该公司为此次发行支付了总计11,194.80加元的现金寻找人费用。
本新闻稿不构成出售要约或征求购买要约,在任何司法管辖区,如果此类要约、招揽或出售在根据该司法管辖区的证券法注册或资格之前是非法的,则不构成出售要约或征求购买要约。这些证券没有也不会根据修订后的《1933年美国证券法》(《美国证券法》)或任何州证券法进行注册,除非获得此类注册的豁免,否则不得在美国境内发行或出售。
关于GFG Resources Inc.
GFG是一家北美贵金属勘探公司,专注于安大略省和怀俄明州一线采矿管辖区的地区规模黄金项目。在安大略省,该公司经营着三个黄金项目,每个项目都是加拿大安大略省蒂明斯多产金矿区内极具前景的大型金矿。这两个项目具有相似的地质环境,拥有蒂明斯金矿营地发现的大多数金矿,该营地已生产超过7000万盎司黄金。公司还拥有位于美国怀俄明州卡斯珀西南约100公里处的地区规模的黄金勘探项目Rattlesnake Hills Gold Project的100%权益。在怀俄明州,公司通过期权和收益协议与Group 11合作,以一项可能彻底改变黄金采矿业的技术推进公司的Rattlesnake Hills黄金项目。
如需更多信息,请联系:
GFG Resources Inc.。
总裁首席执行官布莱恩·斯坎德贝格
或
马克·利佩奇,总裁副总经理,业务发展
电话:(306)931-0930
电子邮件:info@gfgresource ces.com
网站:
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多伦多证券交易所风险交易所及其监管服务提供商(该术语在多伦多证券交易所的政策中定义)均不对本新闻稿的充分性或准确性承担责任。
有关前瞻性信息的警告
除历史事实陈述外,本新闻稿中包含的所有陈述均构成适用的加拿大证券法所指的“前瞻性信息”,以及“1995年美国私人证券诉讼改革法”所指的“前瞻性陈述”(本文称为“前瞻性陈述”)。前瞻性陈述包括但不限于:有关完成发售和根据发售筹集的潜在总收益的披露;收到所有适用的监管批准;公司财产权益的预期性质;勘探计划和基于对未来经济状况和行动方案的假设的预期结果、条件或财务业绩;收益、支出和预算的计划使用及其执行情况。一般而言,这些前瞻性表述可以通过使用前瞻性术语来识别,如“计划”、“预期”或“不预期”、“预期”、“预算”、“预定”、“估计”、“预测”、“打算”、“预期”或“不预期”或“相信”,或这些词语的否定含义或变体,或陈述某些行动、事件或结果、“可能”、“可能”、“将”、“可能”、“可能”、“将”。“可能”或“将被采取”、“发生”或“将被实现”或其否定内涵。
所有前瞻性陈述均基于各种假设,包括但不限于管理层的期望和信念、获得适用的监管批准。融资的可能性、黄金的假设长期价格、与其矿产项目有关的当前勘探和其他目标能够实现以及其其他公司活动将按预期进行;黄金的当前价格和需求将持续或将会改善;黄金和其他金属价格的连续性、经济和政治状况及运营;本公司资产的预期性质、融资的可获得性以及一般业务和经济状况不会以重大不利的方式发生变化。
前瞻性表述会受到已知和未知风险、不确定性和其他因素的影响,可能会导致GFG的实际结果、活动水平、业绩或成就与此类前瞻性表述或暗示的结果存在实质性差异,这些风险和不确定性包括但不限于:与目前提议的完成发售有关的风险和不确定性,或未能获得所有适用监管机构的批准;当前勘探活动的实际结果;环境风险;未来黄金价格;经营风险;事故、劳工问题和采矿业的其他风险;在获得政府批准或融资方面的延迟;以及其他风险和不确定性。这些风险和不确定性不是,也不应被解释为穷尽的。
尽管GFG试图确定可能导致实际结果与前瞻性陈述中的结果大不相同的重要因素,但可能还有其他因素导致结果与预期、估计或预期的结果不同。不能保证这些陈述将被证明是准确的,因为实际结果和未来事件可能与这些陈述中预期的大不相同。此外,前瞻性陈述仅用于提供有关管理层当前预期和计划的信息,并让投资者和其他人更好地了解我们的经营环境。因此,读者不应过分依赖前瞻性陈述。
本新闻稿中的前瞻性陈述是截至本新闻稿之日作出的,除非适用法律要求,否则GFG不承担更新任何前瞻性陈述的义务。