G4G Resources Ltd.
TSX VENTURE : GXG

G4G Resources Ltd.

January 03, 2008 13:09 ET

G4G Closes Financing For $500,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 3, 2008) - G4G Resources Ltd. ("G4G" or the "Company") (TSX VENTURE:GXG) announces that it closed a non-brokered private placement of 4,000,000 Units at a price of $0.125 per Unit for gross proceeds of $500,000.

The net proceeds from this financing will be used for general corporate purposes, for various holding costs of the Company's MacTush Project, and to review new projects.

Each Unit consists of one common share and one non-transferable common share purchase warrant, entitling the holder thereof to purchase an additional common share at an exercise price of $0.45 per share for a period of 24 months from closing of the offering. Insider participation in this private placement was for 420,000 Units. The common shares issued under the private placement are subject to a four-month hold period expiring on April 28, 2008 in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange.

The offering is subject to the final approval of the TSX Venture Exchange.

The Company is also pleased to announce the appointment of Mr. Basil Botha as Director. Mr. Botha has more than 30 years of experience in the exploration and mining industry, including executive positions in mergers and acquisitions, finance, operations and marketing.

On behalf of the Board of Directors,

Mark T. Brown, Director and CFO

Contact Information

  • G4G Resources Ltd.
    Mark T. Brown
    CFO
    (604) 687-3520
    (604) 688-3392 (FAX)
    or
    G4G Resources Ltd.
    Jeremy Link
    Director
    (416) 587-5465