GGL Resources Corp. Announces Increase in Private Placement Due to Strong Demand
GGL Resources Corp. Announces Increase in
Private Placement Due to Strong Demand
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT
FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
VANCOUVER, BC / ACCESSWIRE / 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:
(a) 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
(b) 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.
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
W. Douglas Eaton
CEO and Director
For further information concerning GGL Resources Corp. or its various exploration projects
please visit GGL's website at www.gglresourcescorp.com or contact:
Investor Inquiries
Richard Drechsler
Corporate Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
Corporate Information
Linda Knight
Corporate Secretary
Tel: (604) 688-0546
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.
SOURCE: GGL Resources Corp.