TORONTO, March 28, 2023 /CNW/ – Patrick Sheridan announces that he has acquired ownership and control of 250,000 common shares (the “Shares“) of G2 Goldfields Inc. (the “Company“) at a price of $0.80 per Share for aggregate subscription price of $200,000, in connection with the bought deal public offering of Shares of the Company completed on March 24, 2023 (the “Offering“). Prior to the closing of the Offering, Mr. Sheridan had ownership and control (together with any joint actors) over an aggregate of 40,344,074 Shares (which represented approximately 24% of the then issued and outstanding Shares) and convertible securities entitling Mr. Sheridan to acquire an additional 3,750,000 Shares (which represented approximately 26% of the Shares on a partially diluted basis). Following the closing of the Offering, Mr. Sheridan has ownership and control (together with any joint actors) over an aggregate of 40,594,074 Shares (which represents approximately 22% of the issued and outstanding Shares), and convertible securities entitling Mr. Sheridan to acquire an additional 3,750,000 Shares representing approximately 24% of the Shares on a partially diluted basis.

The Shares were acquired in the Offering for investment purposes. Depending on various factors including, without limitation, the Issuer’s financial position, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Issuer’s business or financial condition and other factors and conditions the acquiror deems appropriate, the acquiror may increase or decrease his beneficial ownership of Shares or other securities of the Issuer whether in the open market, by privately negotiated agreement or otherwise.

An early warning report is being filed in connection with Mr. Sheridan’s ownership percentage decreasing by 2% on a partially diluted basis (from 26% to 24% of the Shares) as a result of the completion of the Offering. A copy of the early warning report filed in connection with the matters set forth above may be obtained by contacting:

Patrick Sheridan 
141 Adelaide Street West, Suite 1101
Toronto, Ontario M5H 3L5
(416) 628-5904
Email: [email protected]

The Company’s head office is located at 141 Adelaide Street West, Suite 1101, Toronto, Ontario M5H 3L5.

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.

SOURCE Patrick Sheridan