GFG Acquires Claims at Pen Gold Project and Provides Corporate Update
GFG Resources (OTCQB: GFGSF) has announced strategic acquisitions and corporate updates. The company has acquired claims within its Pen Gold Project near Timmins, Ontario for C$4,500, securing 100% ownership. The company has also granted 3,812,000 stock options to directors and officers, exercisable over five years at C$0.195 per share.
Additionally, GFG will issue 111,111 common shares to Apitipi Anicinapek Nation following a recently signed exploration agreement, pending TSX Venture Exchange approval. The company operates three gold projects in the Timmins Gold Camp, a prolific district that has historically produced over 70 million ounces of gold.
GFG Resources (OTCQB: GFGSF) ha annunciato acquisizioni strategiche e aggiornamenti aziendali. L'azienda ha acquisito diritti all'interno del suo Pen Gold Project vicino a Timmins, Ontario, per C$4.500, assicurandosi il 100% della proprietà. L'azienda ha anche concesso 3.812.000 opzioni su azioni a direttori e funzionari, esercitabili nell'arco di cinque anni a C$0,195 per azione.
Inoltre, GFG emetterà 111.111 azioni ordinarie a Apitipi Anicinapek Nation a seguito di un recente accordo di esplorazione firmato, in attesa dell'approvazione della TSX Venture Exchange. L'azienda gestisce tre progetti auriferi nel Timmins Gold Camp, un distretto prolifico che ha storicamente prodotto oltre 70 milioni di once d'oro.
GFG Resources (OTCQB: GFGSF) ha anunciado adquisiciones estratégicas y actualizaciones corporativas. La empresa ha adquirido derechos dentro de su Pen Gold Project cerca de Timmins, Ontario, por C$4,500, asegurando el 100% de la propiedad. La empresa también ha otorgado 3,812,000 opciones sobre acciones a directores y funcionarios, que se pueden ejercer durante cinco años a C$0.195 por acción.
Además, GFG emitirá 111,111 acciones comunes a Apitipi Anicinapek Nation tras un acuerdo de exploración recientemente firmado, sujeto a la aprobación de la TSX Venture Exchange. La empresa opera tres proyectos de oro en el Timmins Gold Camp, un distrito prolífico que ha producido históricamente más de 70 millones de onzas de oro.
GFG Resources (OTCQB: GFGSF)는 전략적 인수 및 기업 업데이트를 발표했습니다. 이 회사는 온타리오주 팀민스 근처의 Pen Gold Project 내에서 C$4,500에 권리를 인수하여 100% 소유권을 확보했습니다. 또한 이 회사는 3,812,000주 스톡 옵션을 이사 및 임원에게 부여했으며, 이는 5년 동안 C$0.195로 행사할 수 있습니다.
추가로 GFG는 최근 체결된 탐사 계약에 따라 Apitipi Anicinapek Nation에 111,111주 보통주를 발행할 예정이며, 이는 TSX Venture Exchange의 승인을 기다리고 있습니다. 이 회사는 팀민스 골드 캠프에서 세 개의 금 프로젝트를 운영하고 있으며, 이 지역은 역사적으로 7000만 온스 이상의 금을 생산한 풍부한 지역입니다.
GFG Resources (OTCQB: GFGSF) a annoncé des acquisitions stratégiques et des mises à jour d'entreprise. La société a acquis des droits dans son Pen Gold Project près de Timmins, Ontario, pour 4 500 C$, assurant ainsi 100 % de propriété. L'entreprise a également accordé 3 812 000 options d'achat d'actions à des directeurs et des dirigeants, exerçables sur cinq ans à 0,195 C$ par action.
De plus, GFG émettra 111 111 actions ordinaires à la Nation Apitipi Anicinapek suite à un accord d'exploration récemment signé, en attente de l'approbation de la TSX Venture Exchange. L'entreprise exploite trois projets aurifères dans le Timmins Gold Camp, un district prolifique qui a historiquement produit plus de 70 millions d'onces d'or.
GFG Resources (OTCQB: GFGSF) hat strategische Akquisitionen und Unternehmensupdates angekündigt. Das Unternehmen hat Ansprüche innerhalb seines Pen Gold Project in der Nähe von Timmins, Ontario, für C$4.500 erworben und sich 100% Eigentum gesichert. Das Unternehmen hat auch 3.812.000 Aktienoptionen an Direktoren und Führungskräfte vergeben, die über einen Zeitraum von fünf Jahren zu C$0,195 pro Aktie ausgeübt werden können.
Darüber hinaus wird GFG 111.111 Stammaktien an die Apitipi Anicinapek Nation ausgeben, nachdem ein kürzlich unterzeichneter Explorationsvertrag, der auf die Genehmigung der TSX Venture Exchange wartet, abgeschlossen wurde. Das Unternehmen betreibt drei Goldprojekte im Timmins Gold Camp, einem produktiven Gebiet, das historisch über 70 Millionen Unzen Gold produziert hat.
- Strategic acquisition of new claims strengthens Pen Gold Project position
- 100% ownership secured in claims for minimal investment of C$4,500
- Presence in prolific Timmins Gold Camp with 70M oz historical production
- Stock option grants may lead to potential shareholder dilution
- Additional share issuance to Apitipi Anicinapek Nation will cause further dilution
SASKATOON, Saskatchewan, March 21, 2025 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) has acquired strategic claims within the Company’s Pen Gold Project located west of Timmins, ON.
The Company paid a total purchase price of C
In addition, and pursuant to the Company’s annual executive compensation program, the Company announces that it has granted stock options to directors and officers to purchase up to an aggregate of 3,812,000 common shares of the Company. The stock options have various vesting periods and are exercisable for a period of five years at a price of
Lastly, as previously reported on March 6, 2025, the Company will issue 111,111 common shares of the Company to Apitipi Anicinapek Nation pursuant to its recently signed exploration agreement. The issuance of common shares of the Company is subject to the approval of the TSX Venture Exchange.
About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions. The Company operates three gold projects, each hosting large and highly prospective gold properties within the prolific gold district of Timmins, Ontario, Canada. The projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold.
For further information, please contact:
Brian Skanderbeg, President & CEO
or
Marc Lepage, Vice President, Business Development
Phone: (306) 931-0930
Email: info@gfgresources.com
Website: www.gfgresources.com
Stay Connected with Us
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Neither 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.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as “forward-looking statements”). Forward-looking statements include, but are not limited to, the Company’s future exploration plans with respect to its property interests and the timing thereof, the prospective nature of the projects, future price of gold, success of exploration activities and metallurgical test work, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of exploration work, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour, and that the political environment within Canada will continue to support the development of mining projects. In addition, the similarity or proximity of other gold deposits to the Company’s projects is not necessary indicative of the geological setting, alteration and mineralization of the Goldarm Property, the Pen Gold Project and the Dore Gold Project.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GFG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; availability of capital, delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties and the additional risks described in the Company’s most recently filed annual and interim MD&A are not and should not be construed as being exhaustive.
Although GFG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management’s current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and GFG assumes no obligation to update any forward-looking statements, except as required by applicable laws.
FAQ
How much did GFG Resources (GFGSF) pay for the new Pen Gold Project claims?
How many stock options did GFGSF grant to directors and officers in March 2025?
What is the historical gold production of the Timmins Gold Camp where GFGSF operates?
How many shares will GFGSF issue to Apitipi Anicinapek Nation?
