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.
不得在美國或通過美國通訊社傳播
薩斯卡通,薩斯喀徹溫省,2023年3月21日(環球通訊社)GFG Resources Inc.(多倫多證券交易所股票代碼:GFG)(OTCQB:GFGSF)(“GFG“或”公司“)已完成超額認購、定向增發融資(The供奉“)(請參閱日期為的新聞稿2023年2月17日和2023年3月2日)總收入為4,199,578加元。關於此次獻禮,阿拉莫斯黃金公司(“阿拉莫斯”)(多倫多證券交易所:AGI;紐約證券交易所:AGI)購買證券,以增加他們在本公司的持倉至9.99%的權益。
根據是次發售,GFG發行(I)13,389,076股本公司(“單位”)每單位0.13加元的價格,總收益為1,740,580加元;(2)2,250,000股公司普通股,就《所得稅法》(加拿大)(“金融時報”的股票)每股0.15加元的價格,總收益為337,500加元;及(Iii)公司11,369,231個溢價單位(“高級單位”)總收益為2,121,498加元,價格為每溢價單位0.1866加元。每個單位由一股本公司普通股(不得為“流通股”)及一份認購權證的一半組成,每份完整股份認購權證(“認股權證”)的持有人有權以0.18加元的行使價購入額外一股本公司普通股(不得為“流通股”),為期36個月,由發行日期起計。每個溢價單位應由一股FT股票組成(a“英國《金融時報》高級股票“)和一份認股權證的一半。
如果在認股權證行使期間,公司普通股的收盤價連續10個交易日等於或高於0.26美元,GFG將有權通過新聞稿通知認股權證持有人認股權證將於上述新聞稿發佈後30天到期,從而加快認股權證的到期日。
出售FT股份和FT溢價股份所得的總收益將用於在安大略省的勘探活動,這些活動將符合資格為“加拿大勘探費用”(在《所得稅法》(加拿大))。出售該等單位及部分包括溢價單位的認股權證所得款項淨額,將用於本公司於安大略省專案的勘探活動及一般營運資金用途。
在遵守適用的監管規定及根據國家文書45-106-招股章程豁免(“NI 45-106”)的情況下,已根據NI 45-106第5A部下的上市發行人融資豁免,向居住於加拿大及/或其他合資格司法管轄區的買家出售單位、FT股份及溢價單位。由於是次發售是根據上市發行人融資豁免而完成,根據適用的加拿大證券法,在發售中向認購人發行的證券將不受持有期限制。在表格45-106F19上有一份與發售有關的發售檔案,可於本公司網站及於本公司簡介下查閱,潛在投資者在作出投資決定前應閱讀本發售檔案。
關聯方交易
就是次發售,本公司下列高級人員及董事(統稱為《知情人》)、董事首席執行官兼首席執行官布萊恩·斯坎德貝格、董事首席執行官布萊恩·布斯和董事首席執行官阿諾德·克拉森總共購買了76,923個單位和200,000股FT股票。根據多邊檔案61-101--在特殊交易中保護少數股權持有人(“MI 61-101”)。由於內部人士參與發售的公平市值不超過公司市值的25%,該公司還依賴MI 61-101規定的小股東批准豁免要求。
2023年3月21日,阿拉莫斯同意以0.13加元的價格購買6,384,615個單位,通過與第三方的股份購買協定,總收購價為829,999.95加元。交易記錄“)。在發售結束前,Alamos持有14,424,389股普通股和650,995股GFG認股權證,按部分攤薄計算,證券持有率約為8.29%。發行結束後,Alamos將實益擁有或控制和指導GFG的20,809,004股普通股和3,843,303份認股權證。假設行使認股權證,Alamos將實益擁有或控制及指揮24,652,307股普通股,或佔GFG已發行及已發行普通股的11.63%,按部分攤薄基準計算。Alamos出於投資目的收購了這些單位,將對其進行評估,並可由Alamos酌情決定不時增加或減少單位。阿拉莫斯公司的早期預警報告的副本可在國家能源署的網站上獲得,也可以通過聯繫斯科特·K·帕森斯,高級副總裁,投資者關系部,電子郵件:SParsons@alamosGoldd.com,416-368-9932(內線)索取。5439)或郵寄至Brookfield Place,181 Bay Street,Suite 3910,Toronto,Ontario M5J 2T3。
與此次發行相關的是,該公司為此次發行支付了總計11,194.80加元的現金尋找人費用。
本新聞稿不構成出售要約或徵求購買要約,在任何司法管轄區,如果此類要約、招攬或出售在根據該司法管轄區的證券法註冊或資格之前是非法的,則不構成出售要約或徵求購買要約。這些證券沒有也不會根據修訂後的《1933年美國證券法》(《美國證券法》)或任何州證券法進行註冊,除非獲得此類註冊的豁免,否則不得在美國境內發行或出售。
關於GFG Resources Inc.
GFG是一家北美貴金屬勘探公司,專注於安大略省和懷俄明州一線採礦管轄區的地區規模黃金專案。在安大略省,該公司經營著三個黃金專案,每個專案都是加拿大安大略省蒂明斯多產金礦區內極具前景的大型金礦。這兩個專案具有相似的地質環境,擁有蒂明斯金礦營地發現的大多數金礦,該營地已生產超過7000萬盎司黃金。公司還擁有位於美國懷俄明州卡斯珀西南約100公里處的地區規模的黃金勘探專案Rattlesnake Hills Gold Project的100%權益。在懷俄明州,公司通過期權和收益協定與Group 11合作,以一項可能徹底改變黃金採礦業的技術推進公司的Rattlesnake Hills黃金專案。
如需更多資訊,請聯繫:
GFG Resources Inc.。
總裁首席執行官布萊恩·斯坎德貝格
或
梅克·利佩奇,總裁副總經理,業務發展
電話:(306)931-0930
電子郵件:info@gfgresource ces.com
網站:
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多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
有關前瞻性資訊的警告
除歷史事實陳述外,本新聞稿中包含的所有陳述均構成適用的加拿大證券法所指的“前瞻性資訊”,以及“1995年美國私人證券訴訟改革法”所指的“前瞻性陳述”(本文稱為“前瞻性陳述”)。前瞻性陳述包括但不限於:有關完成發售和根據發售籌集的潛在總收益的披露;收到所有適用的監管批准;公司財產權益的預期性質;勘探計劃和基於對未來經濟狀況和行動方案的假設的預期結果、條件或財務業績;收益、支出和預算的計劃使用及其執行情況。一般而言,這些前瞻性表述可以通過使用前瞻性術語來識別,如“計劃”、“預期”或“不預期”、“預期”、“預算”、“預定”、“估計”、“預測”、“打算”、“預期”或“不預期”或“相信”,或這些詞語的否定含義或變體,或陳述某些行動、事件或結果、“可能”、“可能”、“將”、“可能”、“可能”、“將”。“可能”或“將被採取”、“發生”或“將被實現”或其否定內涵。
所有前瞻性陳述均基於各種假設,包括但不限於管理層的期望和信念、獲得適用的監管批准。融資的可能性、黃金的假設長期價格、與其礦產專案有關的當前勘探和其他目標能夠實現以及其其他公司活動將按預期進行;黃金的當前價格和需求將持續或將會改善;黃金和其他金屬價格的連續性、經濟和政治狀況及運營;本公司資產的預期性質、融資的可獲得性以及一般業務和經濟狀況不會以重大不利的方式發生變化。
前瞻性表述會受到已知和未知風險、不確定性和其他因素的影響,可能會導致GFG的實際結果、活動水準、業績或成就與此類前瞻性表述或暗示的結果存在實質性差異,這些風險和不確定性包括但不限於:與目前提議的完成發售有關的風險和不確定性,或未能獲得所有適用監管機構的批准;當前勘探活動的實際結果;環境風險;未來黃金價格;經營風險;事故、勞工問題和採礦業的其他風險;在獲得政府批准或融資方面的延遲;以及其他風險和不確定性。這些風險和不確定性不是,也不應被解釋為窮盡的。
儘管GFG試圖確定可能導致實際結果與前瞻性陳述中的結果大不相同的重要因素,但可能還有其他因素導致結果與預期、估計或預期的結果不同。不能保證這些陳述將被證明是準確的,因為實際結果和未來事件可能與這些陳述中預期的大不相同。此外,前瞻性陳述僅用於提供有關管理層當前預期和計劃的資訊,並讓投資者和其他人更好地瞭解我們的經營環境。因此,讀者不應過分依賴前瞻性陳述。
本新聞稿中的前瞻性陳述是截至本新聞稿之日作出的,除非適用法律要求,否則GFG不承擔更新任何前瞻性陳述的義務。