G4G Resources Ltd.

G4G Resources Ltd.

May 04, 2009 18:46 ET

G4G Resources Closes $300,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2009) - G4G Resources Ltd. (TSX VENTURE:GXG) today announced the closure of the previously announced non-brokered private placement of 5,000,000 Units at a price of $0.06 per Unit for gross proceeds of $300,000 (see press release dated March 24, 2009).

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 $0.15 per share until the earlier of (i) 24 months following issuance; and (ii) in the event that the common shares of G4G trade at or above $0.50 per share for a period of 20 consecutive days. The private placement financing has received regulatory approval. All securities issued in connection with the private placement will be subject to a four-month regulatory hold period, expiring on September 5, 2009 in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange.

The previously announced press release (dated April 6, 2009) granting options to directors, officers and consultants of G4G to purchase 1,100,000 common shares of G4G at an exercise price of $0.07 has been revised to: the granting of options to directors, officers and consultants of G4G to purchase 1,100,000 common shares of G4G at an exercise price of $0.10 per common share of G4G, subject to regulatory approval.

About G4G Resources

G4G Resources is a Canadian-based mineral exploration and development company focused on a number of resource projects.

Forward-Looking Statement

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2006 Annual Report filed with SEDAR on April 30, 2007.

Should you wish to receive Company news via email, please email ir@g4gresources.com and specify "G4G News" in the subject line.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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