GGL Resources Corp. Closes Final Tranche of Private Placement
GGL RESOURCES CORP. CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT
Vancouver, BC – May 30, 2024 – GGL Resources Corp. (TSX -V: GGL) ( “GGL”) announces that it
obtained disinterested shareholder approval at its Annual General and Special Meeting held on May 17,
2024 for the creation of E CEE Money Limited (“ECEE”), a private company controlled by W. Douglas
Eaton, the Chief Executive Officer and a Director of GGL, as a Control Person of GGL and for its
participation in the private placement originally announced on February 13, 2024. GGL has now closed
the final tranche of this private placement, consisting of the issuance to ECEE of 2,800,000 common shares
at a price of $0.05 per share, for gross proceeds of $140,000.
The participation of ECEE in the private placement constituted a related party transaction within the
meaning of TSX –V Policy 5.9 and Multilateral Instrument 61 -101 – Protection of Minority Security
Holders in Special Transactions (“MI 61-101”). GGL has relied on the exemption from the formal valuation
of MI 61 -101 contained in section 5.5(a) in respect of the related party participation in the private
placement, as the fair market value (as determined under MI 61 -101) of the subject matter of, or the fair
market value of the consideration for, the transaction, in relation to ECEE, did not represent more than 25%
of GGL’s market capitalization (as determined under MI 61-101).
All of the securities issued pursuant to the final closing are subject to a hold period in Canada until October
1, 2024. The proceeds from ECEE’s participation in the private placement will be used for exploration and
development activities at GGL’s Gold Point Project in the Walker Lane Trend of western Nevada 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. GGL 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, and
an exciting new porphyry discovery. GGL 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
Columbia. GGL also holds diamond royalties on mineral leases adjacent to the Gahcho Kué diamond mine
in the Northwest Territories.
ON BEHALF OF THE BOARD
“David Kelsch”
David Kelsch
President, COO and Director
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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
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.