GGL Resources Corp. Announces Closing of Private Placements and the Filing of an Early Warning Report
GGL RESOURCES CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENTS AND THE
FILING OF AN EARLY WARNING REPORT
Vancouver, B.C. – May 30, 2019 – GGL Resources Corp. (TSX-V: GGL) (“GGL” or the “Company“)
announces the following:
1. Closing of Private Placements
GGL has closed the private placements originally announced on A pril 16, 2019. The private placements
consisted of the sale of the following securities:
(a) 4,137,500 units at a price of $0.08 per unit, for aggregate subscription proceeds of
$331,000, each unit consisting of one common share and one non- transferable share
purchase warrant; and
(b) 550,000 flow-through units at a price of $0.10 per flow-thr ough unit, for aggregate
subscription proceeds of $55,000, each flow-through unit consis ting of one flow-through
share and one non-transferable share purchase warrant.
Each warrant from the sale of both the units and the flow-through units will entitle the holders to purchase
one additional non-flow-through common shares at a price of $0. 15 until May 28, 2022, provided that, in
the event the volume weighted average trading price of GGL’s co mmon shares as traded on the TSX
Venture Exchange is equal to or greater than $0.25 for a period of ten consecutive trading days
subsequent to the expiry of the applicable hold period, GGL may give a notice of an earlier expiry of the
warrants, in which case they would expire 30 calendar days from the giving of such notice.
All securities issued pursuant to the private placements, inclu ding any shares that may be issued pursuant
to the exercise of the share purchase warrants, are subject to a hold period in Canada until September 29,
2019.
2. Filing of Early Warning Report
GGL also announces that ECEE Money Limited (“ECEE”), a private company controlled by W. Douglas
Eaton, the Chief Executive Officer and a Director of GGL, acqui red 1,875,000 units (the “Acquired
Units”) pursuant to the unit private placement disclosed above. Prior to ECEE’s acquisition of the
Acquired Units, it held 1,617,000 common shares of GGL, represe nting approximately 7.32% of GGL’s
then issued and outstanding common shares. As a result of the acquisition of the Acquired Units, ECEE
now holds 3,492,000 common shares and 1,875,000 share purchase warrants of GGL, representing
approximately 13.03% of GGL’s c urrently issued and outstanding common shares and 40.00% of its
currently issued and outstanding share purchase warrants.
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ECEE has advised GGL that it acquired the Acquired Units for in vestment purposes. Depending on
market conditions and other factors, ECEE may from time to time acquire and/or dispose of securities of
GGL or continue to hold its current position. A copy of ECEE’s Early Warning Report required to be
filed by ECEE in connection with its acquisition of the Acquire d Units will be available on SEDAR at
www.sedar.com and may be obtained from ECEE at the address set forth below:
ECEE Money Limited
Suite 1016 – 510 West Hastings Street
Vancouver, B.C. V6B 1L8
This news release is being issued pursuant to National Instrume nt 62-103, which also requires that ECEE
file the Early Warning Report with each of the British Columbia and Alberta Securities Commissions
containing information with respect to its securityholdings in GGL.
ON BEHALF OF THE BOARD
‘
“David Kelsch”
David Kelsch
President, COO and Director
For further information concerning GGL Resources Corp. or its v arious exploration projects please visit
our website at www.gglresourcescorp.com or contact:
Corporate Information
Linda Knight
Corporate Secretary
Tel: (604) 688-0546
Investor Inquiries
Richard Drechsler
Corporate Communications
Tel: (604) 687-2522, extension 262
NA Toll-Free: (888) 688-2522
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibilit y for the adequacy or ac curacy 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 in accurate as a result of exploration and other risk factors
beyond its control, and actual results may differ materially from the expected results.