G2 Goldfields Announces Private Placement Increase
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Jan. 24, 2022 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSXV:GTWO; OTCQX:GUYGF) is pleased to announce that it proposes to increase its previously announced non-brokered private placement to provide for the issuance of up to 6,800,000 units (the “Units”) at a price of $0.45 per Unit, for gross proceeds of up to $3,060,000 (the “Offering”). Each Unit shall be comprised of one common share (“Share”) of the Company and one common share purchase warrant (“Warrant”). Each Warrant entitles the holder, on exercise, to purchase one Share for a period of two years following issuance of the Warrant at an exercise price of $1.20 per Share.
As announced on January 6, 2022, the Company has already closed the first tranche (the “First Tranche”) of the Offering, having sold 2,250,000 Units to G2’s Executive Chairman, Patrick Sheridan. Accordingly, subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange, up to an additional 4,550,000 Units may be sold in the Offering, with closing of the final tranche expected to occur on or about January 28, 2022. All other terms of the Offering remain the same as previously announced. For further details, please refer to the press releases of the Company dated December 15, 2021 and January 6, 2022.
About G2 Goldfields Inc.
The G2 Goldfields team is comprised of professionals who have been involved in the discovery of more than 7 million ounces of gold in Guyana and the financing and development of Guyana’s largest gold mine. The Oko Main Zone discovery is the initial fruit of the application of this extensive in-country experience. Ongoing exploration within the 17km long Aremu – Oko trend has generated multiple drill targets, similar in geological setting and scale to Oko Main. The Aremu – Oko district has been a prolific alluvial goldfield since the rush of the 1870’s. Modern exploration by the G2 Goldfields team has begun and continues to reveal the exceptional potential of this district.
All scientific and technical information in this press release has been prepared under the supervision of 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 Noone
CEO
+1.416.628.5904
Email: d.noone@g2goldfields.com
............Bluetick