By Devika Patel
Knoxville, Tenn., Sept. 23 - G4G Resources Ltd. announced it will raise C$1.75 million in a non-brokered private placement of units.
The company will sell units of one common share and one warrant at C$0.25 apiece. Each warrant will be exercisable at C$0.50 for two years.
The warrants may expire sooner if the company's shares trade at or above C$0.70 for 20 consecutive days.
Proceeds will be used for identifying and evaluating geothermal and ironsands projects and for identifying and evaluating additional opportunities and working capital purposes.
Based in Vancouver, B.C., G4G has projects in iron ore, iron production and alternative fuels.
| Issuer: | G4G Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.75 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 23
|
| Stock symbol: | TSX Venture: GXG
|
| Stock price: | C$0.265 at close Sept. 22
|
| Market capitalization: | C$6.35 million
|
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