GFM Resources arranges $1.5-million private placement

Executive Summary

• GFM Resources Ltd. 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 common share purchase warrant (exercise price $0.05 per share, exercisable for one year).
• Proceeds will be used to repay outstanding liabilities and for general working‑capital purposes; the placement is subject to TSX Venture Exchange approval and a statutory hold period.

Key Details

• Placement Size: Up to 30 million units (each = 1 common share + 1 warrant).
• Price per Unit: $0.05, yielding potential gross proceeds of up to $1.5 million.
• Warrant Terms: One‑year term; each warrant allows purchase of one additional common share at $0.05 per share.
• Use of Proceeds: Repayment of outstanding liabilities and general working capital.
• Regulatory Conditions: Subject to approval by the TSX Venture Exchange; securities will be subject to a four‑month‑and‑one‑day hold period under applicable securities laws.

Notable Quotes

(No executive quotes were provided in the release.)