G2 Goldfields Inc. (TSXV:GTWO) announced a non-brokered private placement of 9,615,384 units at a price of CAD 0.52 per unit for a gross proceeds of CAD 5,000,000 on June 10, 2020. The transaction will include participation from Northfield Capital Corporation (TSXV:NFD.A) for 960,000 units and from insiders of the company for 1,925,000 units. Each unit consist of one common share and one-half of one share purchase warrant.

Each warrant will exercisable to acquire one additional share at an exercise price of CAD 1.00 for a period of 18 months from the date of closing. The company will pay a finder fees of CAD 50,000, which will be satisfied by the issuance of 96,153 units. The company may also issue to eligible registrants up to such number of broker warrants as is equal to 6% of the aggregate number of units sold.

Each broker warrant will be exercisable to acquire one unit at an exercise price of CAD 0.52 for a period of 18 months from the closing. The transaction is subject to the receipt of all applicable regulatory approvals.