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Financings

GFG Resources receives $1M payment from Roxmore

By The Northwire Desk — AI Analysis Dec 22, 2025 · 13:24 RM · 2.2 Roxmore Resources Inc.
RM · Price

Executive Summary

  • GFG Resources Inc. received the final $1 million cash payment, completing the $3.3 million sale of its Rattlesnake Hills gold project to Roxmore Resources Inc.
  • The transaction also included issuance of 3,061,224 Roxmore common shares valued at ~$581,633 and assumption of environmental liabilities by Roxmore.
  • A contingent earn‑out provision may provide GFG an additional $1 per ounce for any future NI 43‑101 resource estimate exceeding three million ounces of gold.

Key Details

  • Final cash receipt: $1 million received on Dec. 12 2025, bringing total cash paid to $2.7 million.
  • Total transaction value: Approximately $3.3 million (cash + share consideration).
  • Cash payment schedule:
  • $250,000 upon signing the binding LOI.
  • $250,000 upon execution/delivery of definitive agreement.
  • $1.2 million at closing of the transaction.
  • $1 million on Dec. 12 2025 (final payment).
  • Share consideration: Roxmore issued 3,061,224 common shares to GFG, deemed value $581,633.
  • Environmental liability assumption: Roxmore assumed all project environmental liabilities and replaced GFG’s $219,000 reclamation bond.
  • Contingent earn‑out clause: If a NI 43‑101 resource estimate shows >3 million ounces of gold (measured & indicated or inferred), Roxmore will pay GFG $1 per ounce in cash or additional Roxmore shares, at Roxmore’s election.

Notable Quotes

  • No executive quotes were included in the release.
Read the original news release →

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