GFG Resources to Raise CA$7 Million Via Best-Efforts Financing

08:33 AM EDT, 10/02/2026 (MT Newswires) -- GFG Resources Inc (GFG.V) entered into an agreement with Paradigm Capital, as sole agent and bookrunner, in connection with a "best efforts" private placement offering for up to about CA$7.0 million, it said in a statement late Thursday. The offering will consist of the issuance of up to 5.3-million units (HD units) at CA$0.19 per HD unit for about CA$1.0 million. Each HD unit will consist of one non-flow-through common share and one-half of one non-flow-through warrant. The offering will also consist of the issuance of common shares that will qualify as "flow-through shares" (FT shares) at CA$0.22 per FT share. It will also include premium units (premium FT units), each consisting of one FT share and one-half of one flow-through warrant, at CA$0.266 per premium FT unit, to raise about CA$6.0 million. The company said each whole warrant shall be exercisable to buy a share for CA$0.285 for a period of two years. GFG has granted the agent an option to sell up to CA$1.1 million of additional securities. Proceeds from the sale of the HD units will be used for general corporate and working capital needs. Shares of the company closed down 4.7% to CA$0.205 on Thursday on the TSX Venture Exchange.