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GFG Signs Binding LOI with Patriot Gold to Sell its Rattlesnake Hills Gold Project

Retrieved on:

Thursday, May 9, 2024

Project, Sale, Geology, GFG, Date, LOI, Gold, Detour, Transaction, National instrument, Commercial property

SASKATOON, Saskatchewan, May 09, 2024 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces the signing of a binding letter of intent (the “LOI”) for the sale of its 100% owned Rattlesnake Hills Gold Project (the “Project”) to Patriot Gold Vault Ltd., (“Patriot”).

Key Points:

SASKATOON, Saskatchewan, May 09, 2024 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces the signing of a binding letter of intent (the “LOI”) for the sale of its 100% owned Rattlesnake Hills Gold Project (the “Project”) to Patriot Gold Vault Ltd., (“Patriot”).
“We are excited to announce our agreement with Patriot for the sale of our Rattlesnake Hills Gold Project,” stated Brian Skanderbeg, President and CEO of GFG.
Patriot was created to offer leverage to the next gold cycle by creating a liquid, public gold aggregator.
On closing of the Transaction, Patriot will replace the US$219,000 reclamation bond for the Project, which in turn GFG will recoup.

GFG Closes Private Placement Financing

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Friday, April 19, 2024

Sale, Part, Warrant, NOT, GFG, Offering, Brookfield Place, News, Acceleration, Suite, AGI, Issuer, TSX, Income Tax Act, Exercise, Senior, National instrument, Minority, Security (finance)

SASKATOON, Saskatchewan, April 19, 2024 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) has closed its private placement financing (the “Offering”) (see news release dated February 23, 2024) for gross proceeds of C$2,505,866. In connection with the Offering, Alamos Gold Inc. (“Alamos”) (TSX: AGI; NYSE: AGI) purchased securities to maintain their 9.9% interest in the Company.

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NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
SASKATOON, Saskatchewan, April 19, 2024 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) has closed its private placement financing (the “Offering”) (see news release dated February 23, 2024 ) for gross proceeds of C$2,505,866.
In connection with the Offering, GFG management and directors of the Company (collectively the “Insiders”), purchased a total of 3,200,000 Units and 497,000 FT Units.
Prior to the closing of the Offering, Alamos held 20,809,004 common shares and 3,843,303 warrants of GFG, representing a security holding percentage of approximately 11.24%, on a partially diluted basis.
Following the closing of the Offering, Alamos will have beneficial ownership of, or control and direction over 23,809,004 common shares and 5,343,303 warrants of GFG.

GFG Issues Shares to IEP Pursuant to WWCC Gold Property Option Agreement

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Tuesday, April 16, 2024

Prospectors, VWAP, IEP, Agreement, News, GFG

SASKATOON, Saskatchewan, April 16, 2024 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB:GFGSF) (“GFG” or the “Company”) announces that it has issued shares pursuant to the previously announced option agreement (the “Agreement”) with International Explorers and Prospectors Inc. (“IEP”) whereby GFG can acquire a 100% interest of the WWCC Property, located 40 kilometres east of Timmins, Ontario (see news release: “ GFG Finalizes WWCC Property Acquisition East of the Prolific Timmins Gold District”) .

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SASKATOON, Saskatchewan, April 16, 2024 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB:GFGSF) (“GFG” or the “Company”) announces that it has issued shares pursuant to the previously announced option agreement (the “Agreement”) with International Explorers and Prospectors Inc. (“IEP”) whereby GFG can acquire a 100% interest of the WWCC Property, located 40 kilometres east of Timmins, Ontario (see news release: “ GFG Finalizes WWCC Property Acquisition East of the Prolific Timmins Gold District”) .
Pursuant to the Agreement, GFG issued a total of 2,500,000 common shares of the Company to IEP on April 12, 2024 at a deemed value of C$0.08 per common share based on the VWAP for the five previous trading days.
The common shares issued will have a statutory hold period of four months and one day from the date of issuance.

EQS-News: Correction of a release from 06/03/2024, 08:00 CET/CEST - GLOBAL FASHION GROUP REPORTS Q4 & FY 2023 RESULTS

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Wednesday, March 13, 2024

Marketing, Growth, Adjustment, GFG, ANZ, Correction, NMV, Gross margin, Environment, Retail

Correction of a release from 06/03/2024, 08:00 CET/CEST - GLOBAL FASHION GROUP REPORTS Q4 & FY 2023 RESULTS

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Correction of a release from 06/03/2024, 08:00 CET/CEST - GLOBAL FASHION GROUP REPORTS Q4 & FY 2023 RESULTS
The issuer is solely responsible for the content of this announcement.
As a result, we achieved Adjusted EBITDA breakeven in Q4, and maintained a healthy Gross Margin.
However, GFG partially offset this volume impact by maintaining growth in Average Order Value, increasing 6.9% in Q4.
This guidance reflects ongoing market challenges which have been observed in similar topline trends in the first two months of 2024 compared to Q4 2023.

EQS-News: GLOBAL FASHION GROUP REPORTS Q4 & FY 2023 RESULTS

Retrieved on:

Wednesday, March 13, 2024

Marketing, Growth, Adjustment, GFG, ANZ, NMV, Gross margin, Environment

Luxembourg, 6 March 2024 - Global Fashion Group S.A. (“GFG”), the leading online fashion and lifestyle destination in LATAM, SEA and ANZ, demonstrated resilience in executing its strategic initiatives amidst market headwinds to achieve breakeven Adjusted EBITDA and a Gross Margin improvement in Q4.

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Luxembourg, 6 March 2024 - Global Fashion Group S.A. (“GFG”), the leading online fashion and lifestyle destination in LATAM, SEA and ANZ, demonstrated resilience in executing its strategic initiatives amidst market headwinds to achieve breakeven Adjusted EBITDA and a Gross Margin improvement in Q4.
As a result, we achieved Adjusted EBITDA breakeven in Q4, and maintained a healthy Gross Margin.
However, GFG partially offset this volume impact by maintaining growth in Average Order Value, increasing 6.9% in Q4.
This guidance reflects ongoing market challenges which have been observed in similar topline trends in the first two months of 2024 compared to Q4 2023.

GFG Announces Private Placement Financing of up to C$3.3 Million

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Friday, February 23, 2024

Issuer, Income Tax Act, TSX, News, Part, Sale, Exercise, Warrant, Dore Gold, Gold, GFG, NOT, National instrument, VMS, AGI, Offering, Security (finance)

SASKATOON, Saskatchewan, Feb. 23, 2024 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces a private placement to raise gross proceeds of up to C$3.3 million (the “Offering”). As part of the Offering, the Company is pleased to announce that Alamos Gold Inc. (TSX: AGI; NYSE: AGI) has committed to purchase securities in the Offering to maintain their position at a 9.99% interest in the Company upon completion of the Offering.

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NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
SASKATOON, Saskatchewan, Feb. 23, 2024 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces a private placement to raise gross proceeds of up to C$3.3 million (the “Offering”).
With respect to the balance of the Offering, the securities issued to subscribers will be subject to a statutory hold period of four months and one day from the closing date.
The goal is to advance the best targets to drill-ready status by Q4 2024 for first-pass drill testing.
The Company is also active in applying new targeting concepts at its 475 km2 Pen Gold Project west of Timmins.

EQS-News: GLOBAL FASHION GROUP REPORTS Q3 2023 RESULTS

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Thursday, December 14, 2023

Pressure, EBITDA, GFG, NMV, ANZ, Cost, Marketplace, Growth, Convertible bond, Security (finance), SEA, LATAM, Q3

Luxembourg, 9 November 2023 - Global Fashion Group S.A. (“GFG”), the leading online fashion and lifestyle destination in LATAM, SEA and ANZ, continues to strategically position itself for a return to growth, underpinned by ongoing efficiency measures and cost initiatives.

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Luxembourg, 9 November 2023 - Global Fashion Group S.A. (“GFG”), the leading online fashion and lifestyle destination in LATAM, SEA and ANZ, continues to strategically position itself for a return to growth, underpinned by ongoing efficiency measures and cost initiatives.
This includes our transition to a robust platform business and emphasis on driving technology-enabled efficiency through reducing costs and complexity.
In Q3 2023, GFG’s Net Merchandise Value (NMV) and Revenue were down 19.4% and 25.0% yoy respectively.
Due to market challenges, the Group streamlined the LATAM business and decided to close operations in Argentina, which accounted for 4% of Group NMV and 3% of Revenue in H1 2023.

GFG Exercises its Option and Earns 100% in the Montclerg Gold Project in the Prolific Timmins Gold District

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Tuesday, October 24, 2023

Prospectors, Gold, GFG, IEP, Project, Acquisition, Agreement, Mining

SASKATOON, Saskatchewan, Oct. 24, 2023 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has completed its earn-in requirements to earn 100% of the Montclerg Gold Project (“Montclerg” or the “Project”) pursuant to the previously announced option agreement (the “Agreement”) with International Explorers and Prospectors Inc. (“IEP”)(see news release: “ GFG Expands Presence in Timmins - Acquires the Montclerg Gold Project East of the Prolific Timmins Gold District ”).

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SASKATOON, Saskatchewan, Oct. 24, 2023 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has completed its earn-in requirements to earn 100% of the Montclerg Gold Project (“Montclerg” or the “Project”) pursuant to the previously announced option agreement (the “Agreement”) with International Explorers and Prospectors Inc. (“IEP”)(see news release: “ GFG Expands Presence in Timmins - Acquires the Montclerg Gold Project East of the Prolific Timmins Gold District ”).
“We are pleased to finalize the acquisition of Montclerg which comprises a key component of our Goldarm Property,” stated Brian Skanderbeg, President and CEO of GFG.
“The consolidated property is strategically located along major structural corridors, in proximity of four mills and multiple producing gold mines.
Over the last two years, our exploration approach has been aggressive but calculated, returning numerous broad, high-grade gold intercepts within a robust and expandable gold system.

GFG Provides Update on Rattlesnake Hills Gold Project Option Agreement with Group 11 Technologies

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Monday, September 11, 2023

Agreement, Blackjack, Rocky Mountains, GFG, Gold, Timmins, Group 11 element, Project, SAPIEN Technologies, Inc.

SASKATOON, Saskatchewan, Sept. 11, 2023 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces the termination of its option and earn-in agreement (the “Agreement”) with Group 11 Technologies Inc. (“Group 11”), a privately-owned corporation, to advance GFG’s Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States.

Key Points:

SASKATOON, Saskatchewan, Sept. 11, 2023 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces the termination of its option and earn-in agreement (the “Agreement”) with Group 11 Technologies Inc. (“Group 11”), a privately-owned corporation, to advance GFG’s Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States.
Under the terms of the Agreement, Group 11 had the right to acquire, in multiple stages, up to 70% of the Project by completing a series of exploration and development expenditures and making staged cash and equity payments to GFG.
Brian Skanderbeg, President and CEO of GFG commented, “Through our Agreement and the positive metallurgical results from Rattlesnake Hills, Group 11 demonstrated the real potential for In-Situ Recovery application to be used in the gold industry.
The Rattlesnake Hills Gold Project is a gold exploration project located in central Wyoming approximately 100 km southwest of Casper.

EQS-News: GLOBAL FASHION GROUP REPORTS Q2 2023 RESULTS

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Thursday, August 10, 2023

GFG, Growth, BAE Systems Platforms & Services, EBITDA, Acquisition, GDP, Environment, Marketing, NMV, ANZ, Cryptocurrency, Retail, LATAM, SEA

Luxembourg, 10 August 2023 - Global Fashion Group S.A. (“GFG”), the leading online fashion and lifestyle destination in LATAM, SEA and ANZ, continues to execute cost action plans to adapt to challenging market conditions and improve performance going forward.

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Luxembourg, 10 August 2023 - Global Fashion Group S.A. (“GFG”), the leading online fashion and lifestyle destination in LATAM, SEA and ANZ, continues to execute cost action plans to adapt to challenging market conditions and improve performance going forward.
These improvements will grow our platform and are adapted to our current focus on careful cost and inventory management.
We are confident in our ability to navigate these challenges and in building long-term value for our customers, partners and shareholders.”
In Q2 2023, GFG delivered NMV of €346.5 million, down 14.7% yoy.
Expectations for the full year 2023 are unchanged from the guidance issued in our announcement on 26 July 2023.