G4G Resources Announces Private Placement Financing
Vancouver, B.C., April 1, 2008 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) is pleased to announce plans to complete a non-brokered private placement of up to $500,000 through the issuance of units priced at $0.25. Each unit would consist of one common share and one common share purchase warrant (a “Warrant”). Each Warrant would entitle the holder to acquire an additional common share of G4G at a price of $0.45 until the earlier of (i) 24 months following issuance; and (ii) in the event that the common shares of G4G trade at or above $0.70 per share for a period of 20 consecutive days, the day that is the 45th day following G4G’s delivery to the holder of G4G’s notice accelerating the expiry date. The private placement financing is subject to regulatory approval and all securities issued in connection with the private placement will be subject to a four-month regulatory hold period.
G4G plans on using the proceeds from the financing for the exploration and development of the Company’s recently announced joint venture with Teck Cominco (see press release dated March 31, 2008), for identifying additional opportunities and for working capital purposes.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore projects. The company recently (see press release dated March 3, 2008) announced the execution of a Memorandum of Understanding (MOU) with IMBS to establish a joint venture to utilize Finesmelt™ technology, a process which converts iron ore fines into high quality iron units. On March 31, 2008, the company announced the formation of a joint venture with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for eight mineral properties in the Norrbotten iron ore mining district in Sweden. Additionally, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
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.
For more information contact:
Peter Arendt, President and CEO
G4G Resources Ltd.
Tel: 604-648-4202
Email:
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