GGL Resources Corp. Announces Increase in Private Placement Due to Strong Demand
9 May 2022
Vancouver, BC – May 9, 2022 – GGL Resources Corp. (TSX-V: GGL) (“GGL” or the “Company”) is pleased to announce that, subject to regulatory acceptance, it will increase the size of the non-brokered private placement (the “Offering”) previously announced on April 21, 2022. Due to significant investor demand, the private placement will now consist of the sale of the following securities:
- up to 3,000,000 flow-through common shares at a price of $0.16 per share, to raise gross proceeds of up to $480,000 (as previously announced); and
- up to 15,000,000 non-flow-through common shares at a price of $0.13 per share, to raise gross proceeds of up to $1,950,000.
Insiders may participate in the private placement and finders’ fees 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 the Offering, which is subject to TSX Venture Exchange acceptance, will be used for exploration and development activities on the Company’s Nevada based Gold Point Project as described in its March 15, 2022 news release, exploration work at its 100% owned McConnell Copper-Gold Project in British Columbia as announced March 17, 2022, and for general working capital purposes.
About GGL Resources Corp.
GGL is a seasoned, Canadian-based junior exploration company, focused on the exploration and advancement of under evaluated mineral assets in politically stable, mining friendly jurisdictions. The Company has optioned and wholly owns claims in the Gold Point district of the prolific Walker Lane Trend, Nevada. The Gold Point claims cover several gold-silver veins, four of which host past producing high-grade mines. The Company also owns the McConnell copper-gold project located 22 kilometers southeast of the Kemess Mine in north-central British Columbia, and promising diamond exploration projects in Nunavut and the Lac de Gras diamond district of the Northwest Territories. Lac de Gras is home to Canada’s first two diamond mines, the world class Diavik and Ekati mines discovered in the 1990s. GGL also holds diamond royalties on mineral leases near the Gahcho Kué diamond mine in the Northwest Territories.