GGL Resources Corp. Announces Private Placement and Board and Management Changes
GGL Resources Corp. Announces Private Placement and Board
and Management Changes
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
GGL Resources Corp. (TSX-V:GGL) ("GGL" or the "Company") announces a non-brokered
private placement offering (the "Offering") to consist of the sale of up to 4,000,000
common shares at a price of $0.05 per share, to raise gross proceeds of up to $200,000.
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 the Offering, which is subject to TSX
Venture Exchange acceptance, will be used for exploration and development activities at
the Company's McConnell Copper-Gold Project in the Kemess District of northern BC and
the Gold Point Project in the Walker Lane Trend of western Nevada and for general working
capital purposes.
Board and Management Changes
GGL announces the resignation of Doug Eaton as CEO and Director. Matthew Turner, a
Director of GGL, will succeed Mr. Eaton as CEO on an interim basis.
"On behalf of the GGL Board and Shareholders, I want to sincerely thank Doug for his work
over the past eight years as CEO of GGL and wish him the best in his future endeavors, "
stated Matthew Turner, GGL's Interim CEO. "Doug was instrumental in steering the
Company from a chiefly diamond focused portfolio to a more diverse suite of precious and
base metal projects, including GGL's evaluation of underexplored areas of Nevada,
culminating in the recent staking and subsequent option of the Le Champ Porphyry target
to Teck American Incorporated. "
GGL has granted Matthew Turner incentive stock options entitling him to purchase up to a
total of 150,000 common shares at a price of $0.05 until January 29, 2030. The options will
vest on a quarterly basis commencing three months from the date of grant.
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 owned claims in the
Gold Point district of the prolific Walker Lane Trend, Nevada. The Gold Point claims cover
several gold-silver veins, five of which host past producing high-grade mines, as well as an
exciting new porphyry target which is currently under option to Teck American
Incorporated. The Company also owns the McConnell Project, which hosts epithermal gold
veins and an under explored porphyry copper-gold prospect in the Kemess District of north-
central British Colombia. GGL also holds diamond royalties on mineral leases adjacent to
the Gahcho Kué diamond mine in the Northwest Territories.
ON BEHALF OF THE BOARD
"Matthew Turner"
Matthew Turner
Director and Interim CEO
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
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.
Information contained in this news release contains forward-looking statements. These
statements reflect management's current estimates, beliefs, intentions and expectations;
they are not guarantees of future performance. Forward-looking statements are statements
that are not historical facts and are generally, but not always, identified by the words
"evaluate" , "potential" , "likely" , "possible" , "consistent" , "suggest" , "delineate" , and similar
expressions, or that events or conditions "may" , "could" or "will" occur. GGL cautions that
all forward-looking statements are inherently uncertain, and that actual performance may
be affected by a number of material factors, many of which are beyond the control of GGL.
Such factors include, among other things: risks and uncertainties relating to exploration
and development and the results thereof, including the results of the recently completed
drill program, the impact on future mineral resource estimates, the potential for new
discoveries, and the results of future metallurgical programs, as well as the ability of GGL to
obtain additional financing, the need to comply with environmental and governmental
regulations, fluctuations in the prices of commodities, operating hazards and risks,
competition and other risks and uncertainties, including those described in GGL's financial
statements available under the GGL profile at www.sedarplus.ca. Accordingly, actual and
future events, conditions and results may differ materially from the estimates, beliefs,
intentions and expectations expressed or implied in the forward-looking information.
Except as required under applicable securities legislation, GGL undertakes no obligation to
publicly update or revise forward-looking information.
SOURCE: GGL Resources Corp.