Northwire Canada EditionTuesday, September 1, 2026
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M&A / Property

GFG Resources receives $1M payment from Roxmore

By The Northwire Desk — AI Analysis Dec 22, 2025 · 13:24 GFG · 0.14 GFG Resources Inc.
GFG · Price

Executive Summary

  • GFG Resources Inc. has received the final cash payment of $1 million from Roxmore Resources Inc. for the sale of its Rattlesnake Hills gold project.
  • The total aggregate consideration received by GFG is approximately $3.3 million, comprising cash payments and the issuance of common shares.
  • Roxmore Resources Inc. has acquired a 100% interest in the project, assuming all environmental liabilities and replacing GFG's reclamation bond.

Key Details

  • Final Payment: GFG received a final cash payment of $1,000,000 on December 12, 2025.
  • Total Cash Consideration: The total cash paid by Roxmore to GFG is $2,700,000, structured as follows:
    • $250,000 upon signing of the binding letter of intent.
    • $250,000 upon execution and delivery of the definitive agreement.
    • $1,200,000 on closing of the transaction.
    • $1,000,000 on December 12, 2025.
  • Equity Consideration: Roxmore issued 3,061,224 common shares to GFG, with a deemed value of $581,633.
  • Total Aggregate Payment: Approximately $3.3 million (Cash + Equity).
  • Liabilities and Bonds: Roxmore assumed all environmental liability for the project and replaced GFG's $219,000 (U.S.) reclamation bond.
  • Contingent Royalty/Earn-out: If a National Instrument 43-101 resource estimate reveals a mineral resource greater than 3 million ounces of gold (measured, indicated, or inferred), Roxmore will pay GFG an additional $1 per total mineral resource ounce in cash or common shares, at Roxmore's election.
  • Counterparty: Roxmore Resources Inc. (previously Patriot Gold Vault Ltd.), a wholly owned subsidiary of Axcap Ventures Inc.

Notable Quotes

  • None provided in the text.
Read the original news release →

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