GGL Resources Corp. Closes Initial Tranche of Private Placement
GGL RESOURCES CORP. CLOSES INITIAL TRANCHE OF PRIVATE PLACEMENT
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
Vancouver, BC – March 27, 2024 – GGL Resources Corp. (TSX-V: GGL) (“GGL”) announces that it has
closed the initial tranche of the non-brokered private placement offering (the “Offering”) originally
announced on February 13, 2024. The initial tranche consisted of the sale of 3,200,000 common shares at
a price of $0.05 per share, for gross proceeds of $160,000.
The following insiders of GGL participated in this private placement:
(a) Matthew Turner, a Director of GGL, subscribed for 100,000 shares;
(b) Strategic Metals Ltd., a reporting issuer listed on Tier 1 of the TSX Venture Exchange and
which is GGL’s largest shareholder, subscribed for 2,000,000 shares; and
(c) Dave Kelsch Consulting Ltd., a company controlled by Dave Kelsch, the President, Chief
Operating Officer and a Director of GGL, subscribed for 100,000 shares.
As required by the TSX Venture Exchange, GGL will be seeking disinterested shareholder approval at its
upcoming Annual General and Special Meeting for the subscription by ECEE Money Limited, a private
company controlled by W. Douglas Eaton, the Chief Executive Officer and a Director of GGL, for
2,800,000 shares.
The participation of the insiders listed above 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 exemptions from the formal valuation and minority
shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(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
each insider disclosed above, d id not represent more than 25% of GGL’s market capitalization (as
determined under MI 61-101).
All of the securities issued pursuant to the initial closing are subject to a hold period in Canada until July
28, 2024. The proceeds from the Offering 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
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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
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.