GGL Resources Corp.: Closes Private Placement
VANCOUVER, July 23, 2020 - GGL Resources Corp. (TSXV:GGL) ("GGL" or the "Company") announces that it has closed the non-brokered private placement announced on July 16, 2020. The private placement consisted of the sale of the following securities: (a) 1,666,666 units at a price of $0.09 per unit, for aggregate subscription proceeds of $150,000; and
(b) 1,363,636 flow-through units at a price of $0.11 per flow-through unit, for aggregate subscription proceeds of $150,000.
Each unit consisted of one common share and one-half (1/2) of a share purchase warrant, and each flow-through unit consisted of one flow-through common share and one-half (1/2) of a share purchase warrant.
Each whole warrant from the sale of either the units or the flow-through units entitles the holder to purchase one additional common share at a price of $0.15 until July 23, 2021.
The Company paid a cash finder's fee of $1,200 to Canaccord Genuity Corp. in connection with the private placement.
All securities issued pursuant to the private placement are subject to a hold period in Canada until November 24, 2020. The proceeds from the private placement 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 Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
Corporate Information
Linda Knight, Corporate Secretary
Tel: (604) 688-0546
info@gglresourcescorp.com
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.
