GFG Closes Final Tranche of Financing

Executive Summary

• GFG Resources Inc. closed the second and final tranche of its private placement, raising an additional C$1,581,773 and bringing total gross proceeds to C$4,119,677.
• The financing consisted of 8,550,128 flow‑through common shares issued at C$0.185 per share; insiders purchased 786,667 of these shares.
• Proceeds are earmarked for exploration activities on the Company’s Ontario gold projects and will qualify as Canadian Exploration Expenses.

Key Details

• Total proceeds: C$4,119,677 from both tranches of the private placement.
• Second tranche amount: C$1,581,773 raised by issuing 8,550,128 flow‑through common shares at C$0.185 each.
• Share issuance: All shares issued under the Listed Issuer Financing Exemption; no hold period required under Canadian securities law.
• Insider participation: Directors/officers purchased 786,667 FT Shares in the second tranche (≈ <25% of market cap, exempt from MI 61‑101 valuation/approval requirements).
• Finder’s fees paid: C$25,529.42 in cash to placement agents.
• Use of proceeds: Dedicated to exploration activities on GFG’s Ontario projects, qualifying as “Canadian Exploration Expenses” for tax purposes.
• Regulatory status: Offering remains subject to final approval by the TSX Venture Exchange; documentation filed on Form 45‑106F19 is publicly accessible.

Notable Quotes

(No direct quotes were included in the release.)