• TSX-V: GFG
  • $0.47-0.02
  • Volume13,500
  • Range$0.47$0.50
  • 52 Week$0.47$1.35
  • Open$0.50
View more details
  • TSX-V: GFG
  • $0.47-0.02
  • Volume13,500
  • Range$0.47$0.50
  • 52 Week$0.47$1.35
  • Open$0.50
View more details

Creating a Prominent North American Precious Metals Exploration Company

Strong Portfolio of Highly Prospective District Scale Assets in Tier I Jurisdictions

News Release

Date Title
12/11/2017
GFG Resources Also Announces Private Placement of up to C$7 Million Not for dissemination in the United States or through U.S. Newswires GFG Resources Inc. (TSX-V:GFG) (OTCQB:GFGSF) (“ GFG ” or the “ Company ”) is pleased to announce that it has entered into agreements (the “ Agreements ”) to consolidate a large, highly prospective land package west of Timmins, Ontario (See Figure 1) with each of Rapier Gold Inc. (TSX-V:RPR) (“ Rapier ”), Probe Metals Inc. (TSX-V:PRB) (“ Probe ”), and Osisko Mining Inc. (TSX:OSK) (“ Osisko ”). Under the respective Agreements, GFG will acquire all of the outstanding common shares of Rapier pursuant to a plan of arrangement (the “ Rapier Acquisition ”) and the West Porcupine Property from Probe (the “ West Porcupine Property Acquisition ”) and the Swayze Project from Osisko (the “ Swayze Property Acquisition ”) via property purchase agreements.  In addition to the Agreements, the Company announces a non-brokered private placement to raise gross

Transaction Highlights

  • Creation of a prominent North American precious metals explorer: Combination of approximately 700 km2 gold properties in tier one jurisdictions, Wyoming and Ontario;
  • Significant exploration potential: Highly prospective district scale assets with brownfield and greenfield opportunities;
  • Leading management and board of directors: Highly experienced leadership team with a proven track record and focused on aggressively advancing projects;
  • Near term catalysts: GFG will plan to aggressively drill both Rattlesnake Hills and the Timmins portfolio in 2018. A maiden resource is expected at Rattlesnake Hills in H1 2018;
  • Well capitalized company: Strong financial position and capital structure to aggressively advance projects; and
  • Strong strategic investor support: GFG is pleased to welcome Probe Metals and Osisko Mining as significant stakeholders in the pro forma company.

Regional Map of West Timmins Property Locations