GGL Resources Corporation Announces Private Placement
VANCOUVER, July 16, 2020 - GGL Resources Corp. (TSXV:GGL) ("GGL" or the "Company") announces a non-brokered private placement offering (the "Offering") of up to $300,000. The Offering will consist of the sale of non-flow-through units at a price of $0.09 per unit and flow-through units at a price of $0.11 per flow-through unit. Each non-flow-through unit will consist of one non-flow-through common share and one-half (1/2) of a non-transferable share purchase warrant, and each flow-through unit will consist of one flow-through common share and one-half (1/2) of a non-transferable share purchase warrant. Each whole warrant from either of the flow-through or the non-flow-through units will entitle the holder to purchase one additional non-flow-through common share at a price of $0.15 for a period of one year from the closing of the private placement.
Insiders may participate in the private placement and finders' fees or brokers' commissions may be paid in accordance with TSX Venture Exchange policies.
All securities issued as part of the Offering will be subject to a hold period in Canada of four months plus one day from closing. The proceeds from this private placement, which is subject to TSX Venture Exchange acceptance, will be used for exploration and development activities on the Company's exploration projects and for general working capital purposes.
ON BEHALF OF THE BOARD
"David Kelsch"
David Kelsch
President, COO and Director
For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:
| Investor Inquiries Richard Drechsler | Corporate Information Linda Knight |
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release does not constitute an offer of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
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.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
Not for Dissemination or Distribution in the United States and not for Distribution to United States Newswire Services
SOURCE: GGL Resources Corp.
