G2 Goldfields Announces Repricing of Certain Warrants

Toronto, Ontario, CANADA


TORONTO, Nov. 04, 2021 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSXV:GTWO; OTCQX:GUYGF) announces that the TSX Venture Exchange (the “TSXV”) has conditionally approved the adjustment of the exercise price of 4,807,692 warrants with an exercise price of $1.00 (the “Adjusted Warrants”) that were outstanding on April 9, 2021 (the effective date of the spin-out of the Sandy Lake project (the “Spin-Out Arrangement”)) to $0.958. The other warrants that were outstanding as of the effective date of the Spin-Out Arrangement were not permitted to be adjusted under the TSXV’s policies. The exercise price of the Adjusted Warrants was adjusted in accordance with the terms of such warrants to reflect the special distribution of the shares of S2 Minerals Inc. in connection with the Spin-Out Arrangement. The other terms of the Adjusted Warrants, including the expiry date of December 23, 2021, remain unchanged. Final approval of the TSXV is expected following issuance of this press release.

About G2 Goldfields Inc.

G2 Goldfields Inc. is focused on the discovery of large gold deposits in the Guiana Shield. The Company owns a 100% interest in two past gold-producing mines, as well as a regional portfolio of highly prospective projects.

For further information please contact:
Dan Noone
CEO
+1.416.628.5904
Email: d.noone@g2goldfields.com

Forward-Looking Statements

This news release contains certain forward-looking statements, including, but not limited to, statements about the effective date of the Arrangement and “due bills” trading dates. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.