GFM Announces Non-Brokered Private Placement

Executive Summary

• GFM Resources Limited announced a non‑brokered private placement of up to 30 million units at $0.05 per unit, targeting gross proceeds of up to $1.5 million.
• Each unit consists of one common share and one warrant to purchase an additional common share at $0.05 for one year.
• Proceeds will be used to repay outstanding liabilities and for general working‑capital purposes; the offering is subject to TSX Venture Exchange approval and includes a four‑month plus one‑day hold period.

Key Details

• Units Offered: Up to 30,000,000 units.
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms: Right to acquire one additional common share at $0.05 per share; exercisable for one year from issuance.
• Price per Unit: $0.05.
• Total Gross Proceeds Target: Up to $1,500,000.
• Use of Proceeds: Repayment of outstanding liabilities and general working‑capital purposes.
• Regulatory Conditions: Subject to approval by the TSX Venture Exchange; securities subject to a four‑month and one‑day hold period under applicable securities laws.

Notable Quotes

(No executive quotes were included in the release.)