G2 Goldfields Announces Upsize of Fully Subscribed Private Placement Financing to $14.4 Million
2022年6月29日 - 11:50PM
G2 Goldfields Inc. (“
G2” or the
“
Company”) (TSXV:GTWO; OTCQX:GUYGF) announces that
it has increased the size of its previously announced private
placement from $10,200,000 to $14,400,000 due to strong demand from
institutional shareholders. The other terms of the offering remain
unchanged (see press release dated June 22, 2022). G2 now proposes
to complete a non-brokered private placement (the
“
Offering”) of 24,000,000 common shares of the
Company (the “
Shares”) at a price of $0.60 per
Share, for gross proceeds of $14,400,000.
The proceeds from the Offering will be used to
advance exploration activities at the Company’s 19,200-acre OKO
project, Guyana and for general corporate purposes. The Offering is
expected to close in July 2022 and is conditional on the
satisfaction of customary conditions, including approval of the TSX
Venture Exchange (the “TSXV”). The securities
issued pursuant to the Offering will be subject to a four-month
hold period.
The Company has agreed to pay registered
representatives that arrange for purchasers in the Offering a cash
commission equal to 6% of the gross proceeds of amounts raised by
such registered representatives and a number of broker warrants
equal to a maximum of 6% of the number of Shares sold by such
registered representatives. Each broker warrant will entitle the
holder thereof to purchase one Share at a price of $0.70 per share
until the close of business on the date which is 12 months from the
close date of the Offering.
Insiders of the Company may subscribe for up to
$1,500,000 of the Offering. Patrick Sheridan, G2’s Executive
Chairman, has committed to subscribing for 1,700,000 Shares
($1,020,000). Mr. Sheridan stated, “we are delighted to announce
this financing, backed primarily by five major institutional
investors, which will allow the Company to expand and expedite the
current exploration program. The Company will be mobilizing two
additional diamond drill rigs to the property to complement the
three rigs currently operating. Additional resources will also be
committed to the greenfields exploration program currently in
progress at the 19,200-acre Oko Project.”
About G2 Goldfields Inc.
The G2 Goldfields team is comprised of
professionals who have been directly responsible for the discovery
of millions of ounces of gold in Guyana as well as the financing
and development of the Aurora Gold Mine, Guyana’s largest gold
mine. G2 recently announced its maiden mineral resource estimate on
the newly discovered Oko property in Guyana (see press release
dated April 25, 2022), and has recently filed on SEDAR an
independent technical report entitled “NI 43-101 Technical Report
and Mineral Resource Estimate for the Oko Gold Property,
Cooperative Republic of Guyana, South America”, with an effective
date of April 14, 2022. Highlights of the report include:
- 974,000 oz. Au –
Inferred Mineral Resource contained within 3,274,000 tonnes @ 9.25
g/t Au; and
- 220,000 oz. Au –
Indicated Mineral Resource contained within 793,000 tonnes @ 8.63
g/t Au.
Significantly, all of the maiden mineral
resources lie within 350 meters of surface and remains open down
plunge. The Oko district has been a prolific alluvial goldfield
since its initial discovery in the 1870’s, and modern exploration
techniques continue to reveal the considerable potential of the
district.
All scientific and technical information in this
news release has been reviewed and approved by Dan Noone (CEO of G2
Goldfields Inc.), a “qualified person” within the meaning of
National Instrument 43-101. Mr. Noone (B.Sc. Geology, MBA) is a
Member of the Australian Institute of Geoscientists.
For further information please contact:
Dan NooneCEO+1.416.628.5904Email:
news@g2goldfields.com
Forward-Looking Statements
This news release contains certain
forward-looking statements, including, but not limited to,
statements about the Offering, including the expected closing date,
the proposed use of proceeds, approval of the TSXV, and insider
participation. Wherever possible, words such as “may”, “will”,
“should”, “could”, “expect”, “plan”, “intend”, “anticipate”,
“believe”, “estimate”, “predict” or “potential” or the negative or
other variations of these words, or similar words or phrases, have
been used to identify these forward-looking statements. These
statements reflect management’s current beliefs and are based on
information currently available to management as at the date
hereof.
Forward-looking statements involve significant
risk, uncertainties and assumptions. Many factors could cause
actual results, performance or achievements to differ materially
from the results discussed or implied in the forward-looking
statements. These factors should be considered carefully and
readers should not place undue reliance on the forward-looking
statements. Although the forward-looking statements contained in
this news release are based upon what management believes to be
reasonable assumptions, the Company cannot assure readers that
actual results will be consistent with these forward-looking
statements. The Company assumes no obligation to update or revise
them to reflect new events or circumstances, except as required by
law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
G2 Goldfields (TSXV:GTWO)
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G2 Goldfields (TSXV:GTWO)
過去 株価チャート
から 1 2024 まで 1 2025