G4G Resources with private placement for geothermal and ironsands projects
Alexander Richter
26 Sep 2009
G4G Resources Ltd. announces plans to complete a non-brokered private placement, using proceeds for identifying and evaluating geothermal and ironsands projects.
In a release, Canadian “G4G Resources Ltd. (TSX VENTURE:GXG) announces plans to complete a non-brokered private placement of up to $1,750,000 through the issuance of units priced at $0.25. Each unit would consist of one common share and one common share purchase warrant (a “Warrant”). Each Warrant would entitle the holder to acquire an additional common share of G4G at a price of $0.50 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. The private placement financing is subject to regulatory approval and all securities issued in connection with the private placement will be subject to a four-month regulatory hold period.
G4G plans on using the proceeds from the financing for identifying and evaluating geothermal and ironsands projects, for which the company has received or submitted applications for minerals concessions together with local partners, and for identifying and evaluating additional opportunities and working capital purposes. There are no assurances that the minerals concessions applications will be granted.
About G4G Resources: G4G Resources is a Canadian-based mineral exploration and development company focused on a number of resource projects.”
Company release via Marketwire
