SASKATOON, SK--(Marketwired - October 26, 2016) - GFG Resources Inc. (TSX VENTURE: GFG) ("GFG" or the "Company") announces that effective Thursday, October 27, 2016 at the opening of trading, the Company will begin trading under the symbol "GFG" on the TSX Venture Exchange ("TSXV"). As a result of completing the reverse take-over transaction (the "RTO") with Crest Petroleum Corp (NEX BOARD: CTP.H) and meeting the necessary listing requirements, GFG has graduated from NEX to the TSXV as a Tier 2 Mining Issuer.
The Company's capital structure consists of 43,253,483 common shares and 340,000 stock options outstanding. Certificates and/or letters of transmittal for the common shares of Crest (now GFG) issued in connection with the RTO have been processed and are being mailed out to applicable shareholders of GFG.
Full details concerning the RTO and descriptions of the new board of directors and management of GFG are included in the joint information circular of GFG and Crest dated September 7, 2016, a copy of which is available for review on the Company's website www.gfgresources.com or on SEDAR.
GFG Resources Inc. is a publicly traded gold exploration company headquartered in Saskatoon, Saskatchewan Canada, whose shares trade on the TSX Venture Exchange (TSX VENTURE: GFG). The Company owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 kilometers southwest of Casper, Wyoming U.S. The geologic setting, alteration and mineralization seen in the Rattlesnake Hills are similar to other gold deposits of the Rocky Mountain alkaline province which, collectively, have produced over 50 million ounces of gold.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained in this news release constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as "forward-looking statements"). Forward-looking statements include, but are not limited to, statements with respect to the change of name and symbol for the Company and timing thereof, future price of gold, success of exploration activities and metallurgical test work, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of exploration work, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour, and that the political environment within the United States will continue to support the development of mining projects in the United States. In addition, the similarity or proximity of other gold deposits of the Rocky Mountain alkaline province to the Rattlesnake Hill Project is not necessary indicative of the geological setting, alteration and mineralization of the Rattlesnake Hills Project.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GFG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive.
Although GFG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and GFG and Crest assume no obligation to update any forward-looking statements, except as required by applicable laws.