# GFG Closes $8.1M Financing for Gold Exploration

> GFG Resources secures $8.1 million funding to expand gold exploration at Aljo and Goldarm properties.
- Title: GFG Closes $8.1M Financing for Gold Exploration | Shortify
- Summary: GFG Resources secures $8.1 million funding to expand gold exploration at Aljo and Goldarm properties. GFG Resources closed an $8.1 million financing to…
- Keywords: gfg resources, alamos gold, aljo gold system, goldarm, tsxv, otcqb, private placement, exploration program, money, business, GFG, Closes
- Source: Financialpost — https://financialpost.com/globe-newswire/gfg-closes-upsized-financing-of-8-1-million
- Read time: 1 min
- Topics: gfg resources, alamos gold, aljo gold system, goldarm, tsxv, otcqb, private placement, exploration program, money, business
## GFG Secures $8.1M Financing
GFG Resources Inc. closed its best efforts private placement financing for aggregate gross proceeds of C$8.1 million.
## Alamos Gold Maintains 10.8% Interest
Alamos Gold indirectly participated in the Offering to maintain its ownership interest at approximately 10.8% on a non-diluted basis.
## Paradigm Capital as Agent
Paradigm Capital Inc. acted as sole agent and bookrunner in connection with the Offering.
## CEO Statement on Funding
Brian Skanderbeg, President and CEO, stated the financing puts GFG in a strong position to advance exploration at Aljo and Goldarm.
## Funding Breakdown
The Offering included 5,336,800 hard dollar units at C$0.19, 7,529,300 flow-through shares at C$0.22, and 20,225,100 premium flow-through units at C$0.266.
## Use of Proceeds
Proceeds will fund Canadian exploration expenses qualifying as flow-through mining expenditures by December 31, 2027.
## Key takeaway

GFG Resources closed an $8.1 million financing to advance gold exploration at Aljo and Goldarm properties with Alamos Gold maintaining 10.8% ownership.