G2 Goldfields closes $49.5-million financing

Executive Summary

• G2 Goldfields Inc. closed a non‑brokered private placement of 15 million common shares at C$3.30 per share, generating gross proceeds of C$49.5 million.
• Net proceeds are earmarked for continued exploration and development of the company’s Guyana mineral properties, as well as general working capital and corporate purposes.
• Insiders participated in the placement; the transaction was treated as a related‑party transaction under MI 61‑101 and exempt from formal valuation or minority shareholder approval.

Key Details

• Offering size: 15 million common shares.
• Price per share: C$3.30.
• Gross proceeds: C$49.5 million.
• Use of proceeds: Exploration & development of Guyana properties; general working capital; corporate purposes.
• Insider participation: Considered a related‑party transaction under Multilateral Instrument 61‑101; exemption relied on sections 5.5(a) and 5.7(1)(a).
• Regulatory filing: A material change report concerning insider participation will be filed <21 days before closing, deemed reasonable to secure financing promptly.
• Previous context: The release references the March 2025 updated mineral resource estimate for the Oko property (total indicated resources of 1.47 million oz Au and inferred resources of 610,700 oz Au across multiple zones).

Notable Quotes

(No direct quotes were provided in the release.)