G2 Goldfields Announces Closing of Final Tranche of Private Placement

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TORONTO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSXV:GTWO; OTCQX:GUYGF) announces that it has closed the second and final tranche (the “Second Tranche”) of its previously announced non-brokered private placement (the “Offering”). In connection with the closing of the Second Tranche of the Offering, the Company sold 4,550,000 units of the Company (the “Units”) at a price of $0.45 per Unit, for gross proceeds of $2,025,000. As a result, the Company sold a total of 6,800,000 Units pursuant to the Offering (including the first tranche, which closed on January 6, 2022), for gross proceeds of $3,060,000. Each Unit consisted of one common share (“Share”) of the Company and one common share purchase warrant (“Warrant”). Each Warrant entitles the holder, on exercise, to purchase one Share for a period of two years following the date of issuance of the Warrant at an exercise price of $1.20 per Share.

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