GFG Receives Final Payment from the Sale of its Rattlesnake Hills Gold Project
GFG resources bolsters balance sheet with non-dilutive cash as Wyoming exit completes
On December 22, 2025, GFG Resources announced the receipt of the final cash payment from the sale of its Rattlesnake Hills Gold Project to Roxmore Resources Inc. (formerly through Axcap Ventures). This final installment of C$1,000,000 completes a total cash consideration of C$3,300,000. Additionally, GFG holds 3,061,224 shares of Roxmore (deemed value ~C$581,633) and retains a contingent payment of C$1.00 per ounce for any resource defined over 3,000,000 ounces. Importantly, the buyer has assumed all environmental liabilities and replaced GFG's US$219,000 reclamation bond.
This is a material positive event for GFG’s liquidity and strategic focus. - Financial De-risking: The receipt of C$1.00M in cash, combined with the release of the US$219k reclamation bond, provides non-dilutive capital to fund ongoing exploration in the Timmins Gold District. - Liability Removal: Transferring the environmental liability of a non-core asset in Wyoming allows management to focus exclusively on Ontario assets. - Cash Position: Per the Sept 30, 2025, interim financials, GFG had C$4.15M in cash. Following the C$4.23M financing in Nov 2025 and this C$1.00M payment, GFG likely enters 2026 with a robust cash position exceeding C$8M, significantly reducing near-term dilution risk. - Verification: The payment schedule aligns perfectly with the promissory note receivable (C$972,484 as of Sept 30) and the previous company projections.
GFG Resources is a North American gold explorer focused on the Timmins Gold District in Ontario. - Flagship Project: The Goldarm Property, specifically the Aljo Mine Target. - Development Stage: Advanced exploration. The company is currently "resource scoping," testing the strike and depth extensions of the Main, Hangingwall, and Footwall zones. - Other Assets: The Pen Gold Project (west of Timmins) and the Dore Gold Project.