NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
SASKATOON, Saskatchewan, June 28, 2024 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it proposes to further amend the common share purchase warrants (“Warrants”) of the Company originally issued on October 6, 2022, March 21, 2023 and April 19, 2024 (the "Proposed Amendments"). An aggregate of 5,692,359 Warrants were issued on October 6, 2022; 12,379,150 Warrants were issued on March 21, 2023; and 12,561,345 Warrants were issued on April 19, 2024. As previously announced, the terms of the Warrants originally issued on October 6, 2022 and March 21, 2023 were recently amended to extend the expiry date to April 19, 2027, as well as to amend the exercise price to $0.13. The Proposed Amendments will provide that in the event that the closing price of the common shares of the Company is equal to or greater than $0.18 for a period of 10 consecutive trading days, the Company will have the right to accelerate the expiry date of any of the Warrants by giving notice, via a news release, to the holders of such Warrants that such securities will expire on the date that is 30 days after the issuance of such news release. An aggregate of 1,836,961 Warrants are held by insiders of the Company. The Proposed Amendments remain subject to the approval of the TSX Venture Exchange.
