SASKATOON, Saskatchewan, March 02, 2018 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V:GFG) (OTCQB:GFGSF) (“GFG” or the “Company”) announces that it has granted, subject to certain vesting requirements, stock options to officers and employees to purchase up to an aggregate of 675,000 common shares of the Company, exercisable for a period of five years at a price of C$0.405 per common share. The incentive stock options were granted in accordance with the Company’s Stock Option Plan.
In satisfaction of a contract and debt owing by the Company’s wholly owned subsidiary Rapier Gold Inc., the Company has agreed to issue a total of 150,000 GFG common shares at a price of $0.33 per share in the aggregate amount of $50,000. The share issuance is subject to the acceptance for filing of applicable regulatory authorities.
About GFG Resources Inc.
GFG Resources is a North American precious metals exploration company headquartered in Saskatoon, Saskatchewan, Canada, whose shares trade on the TSX Venture Exchange (GFG) and on the OTCQB (GFGSF). The Company controls 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 kilometres southwest of Casper, Wyoming, U.S. 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. The Company also owns 100% of two large and highly prospective gold properties west of the prolific gold district of Timmins, Ontario, Canada. The Ontario properties are comprised of the 44,500-hectare Pen Gold Project and the 12,000-hectare Dore Gold Project.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Marc Lepage, Vice President, Business Development
Phone: (306) 931-0930