Peterson McVicar acts for GFG in $1.9 Million Private Placement
On December 21, 2018 GFG Resources Inc. (“GFG” or the “Company”) announced that it had closed Tranche A and Tranche B non-brokered private placements of flow-through common shares of the Company (“FT Shares”) at a price of C$0.29 per FT Share (together the “Offering”).
Pursuant to the Tranche A Offering, the Company issued a total of 4,950,000 FT Shares for gross proceeds of C$1,435,500. Pursuant to the Tranche B Offering, the Company issued a total of 2,213,439 FT Shares for gross proceeds of C$560,000. Gross proceeds raised via the Offering totaled C$1,995,500.
Gross proceeds raised under the Offering will be used for exploration activities at the Company’s Pen and Dore Gold Projects in Ontario that will qualify as “Canadian Exploration Expenses” (within the meaning of the Income Tax Act (Canada)).
GFG Resources is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming.
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