GFG Announces the Grant of Stock Options

Rhea-AI Summary

GFG Resources Inc. (TSX-V: GFG, OTCQB: GFGSF) announced the issuance of stock options enabling the purchase of up to 2,469,118 common shares. These options, granted to directors, officers, employees, and senior consultants, have a five-year exercisable period at a price of $0.17, based on the February 11, 2022 closing price. The company is focused on gold exploration in Ontario and Wyoming, with projects in the Timmins Gold Camp, holding significant geological promise.

Positive

• Granting of 2,469,118 stock options may align management's interests with shareholders.
• Focus on gold exploration in tier-one mining jurisdictions can enhance long-term growth potential.

Negative

• Stock options priced at $0.17 reflect a low valuation compared to market performance.
• Dependence on future gold prices and exploration success poses inherent risks.

SASKATOON, Saskatchewan, Feb. 14, 2022 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) pursuant to the Company’s annual executive compensation program, the Company announced that it has granted stock options to directors, officers, employees and senior consultants to purchase up to an aggregate of 2,469,118 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 $0.17 per common share, being the closing price on February 11, 2022. All options were granted pursuant to the Company’s stock option plan.

About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company operates the Montclerg, Pen and Dore gold projects, each 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. The Company also owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 kilometres southwest of Casper, Wyoming, U.S. In Wyoming, the Company has partnered with Group 11 through an option and earn-in agreement to advance the Company’s Rattlesnake Hills Gold Project with a technology that could revolutionize the gold mining industry. The geologic setting, alteration and mineralization seen in the Rattlesnake Hills are similar to other gold deposits of the Rocky Mountain alkaline province which, collectively, have produced over 50 million ounces of gold.

For further information, please contact:

Brian Skanderbeg, President & CEO
Phone: (306) 931-0930
or
Marc Lepage, Vice President, Business Development
Phone: (306) 931-0930
Email: info@gfgresources.com
Website: www.gfgresources.com  

Stay Connected with Us
Twitter: @GFGResources
LinkedIn: https://www.linkedin.com/company/gfgresources/
Facebook: https://www.facebook.com/GFGResourcesInc/

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 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 and the United States will continue to support the development of mining projects in Canada and the United States. In addition, the similarity or proximity of other gold deposits to the Rattlesnake Hill Gold Project, the Montclerg Gold Project, the Pen Gold Project and the Dore Gold Project is not necessary indicative of the geological setting, alteration and mineralization of the Rattlesnake Hills Gold Project, the Montclerg Gold Project, 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; delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties 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

What are the details of GFG Resources' recently granted stock options?

GFG Resources granted stock options to purchase 2,469,118 common shares at $0.17 each, with a five-year exercisable period.

How does GFG Resources' stock option grant impact shareholder interests?

The stock option grant aligns management's incentives with shareholder interests, potentially enhancing company performance.

In which regions is GFG Resources focusing its gold exploration efforts?

GFG Resources is focused on gold exploration in Ontario and Wyoming.

What are the potential risks associated with GFG Resources' business strategy?

Risks include fluctuations in gold prices, exploration uncertainties, and reliance on obtaining necessary permits.