On May 2, 2025, GFG Resources Inc closed the transaction. The company issued 11,041,591 premium flow-through units at issue price of CAD 0.2717 per premium unit for gross proceeds of CAD 3,000,000.27 in an over-subscribed transaction. Each Premium Unit consists of one common share of the Company and one share purchase warrant entitling the holder thereof to acquire one additional common share of the Company at an exercise price of CAD 0.28 for a period of 24 months from the date of issuance.
Each of the common shares and Warrants comprising the Premium Units qualify as a 'flow-through share' for the purposes of the Income Tax Act (Canada).The balance of the Premium Units sold pursuant to the Offering will be subject to a statutory hold period expiring on September 3, 2025. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ('NI 45-106'), an aggregate of 2,000,000 Premium Units sold pursuant to the Offering have been issued pursuant to the Listed Issuer Financing Exemption under Part 5A of NI 45-106, and accordingly such securities will not be subject to a hold period pursuant to applicable Canadian securities laws. The balance of the Premium Units sold pursuant to the Offering will be subject to a statutory hold period expiring on September 3, 2025.The Offering remains subject to the final approval of the TSX Venture Exchange.
