GFG Resources (TSE:GFG) has released an update.
GFG Resources Inc. has successfully completed a private placement financing, raising C$2.5 million, with Alamos Gold Inc. maintaining its 9.9% stake. The company issued various units, including ‘flow-through’ and premium units, to fund exploration activities in Ontario and for general working capital. Notably, insiders of GFG also significantly participated in the financing, which was conducted in accordance with regulatory requirements and is subject to a statutory hold period.
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