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G4G Resources Closes $1,985,000 Financing
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| Symbol | Price | Change |
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| GXG.V | 0.29 | 0.00 |
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2009) - G4G Resources Ltd. (TSX VENTURE:GXG - News) today announced the closure of the previously announced non-brokered private placement of 7,940,000 Units at a price of $0.25 per Unit for gross proceeds of $1,985,000 (see press release dated September 23, 2009).
Each Unit consists of one common share and one non-transferable common share purchase warrant, entitling the holder thereof to purchase an additional common share at an exercise price of $0.50 per share until the earlier of (i) 24 months following issuance; and (ii) in the event that the common shares of G4G trade at or above $0.70 per share for a period of 20 consecutive days. All securities issued in connection with the private placement will be subject to a four-month hold period, expiring on February 16, 2010.
In connection with the private placement, cash commissions totalling 4.2% of the gross proceeds shall be paid to eligible recipients.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of resource projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Should you wish to receive Company news via email, please email ir@g4gresources.com and specify "G4G News" in the subject line.
Neither the 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.
Contact:
Basil Botha
G4G Resources Ltd.
President and CEO
(604) 602-9868
Email: ir@g4gresources.com
Website: www.g4gresources.com
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