GGL Resources Corp. Closes Private Placement
GGL Resources Corp. Closes Private Placement
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
GGL Resources Corp. (TSXV:GGL) ("GGL") announces that it has closed its previously
announced non-brokered private placement for total proceeds of $200,000 (see GGL's
January 29, 2025 news release). The private placement consisted of the sale of 4,000,000
common shares at a price of $0.05 per share.
All of the securities issued pursuant to the private placement are subject to a hold period in
Canada until June 25, 2025. The proceeds from the private placement will be used for
exploration and development activities at GGL's McConnell Copper-Gold Project in the
Kemess District of northern British Columbia and the Gold Point Project in the Walker Lane
Trend of western Nevada and for general working capital purposes.
Insiders of GGL purchased a total of 3,200,000 common shares in the private placement.
The participation of these insiders 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 exemptions from
the formal valuation and minority shareholder approval requirements provided under
sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the fair market value (as
determined under MI 61-101) of insider participation in the private placement did not
exceed 25% of GGL's market capitalization.
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 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. GGL also
owns the McConnell Project, which hosts mesothermal 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 and southwest of the Ekati diamond mine in the Northwest Territories.
ON BEHALF OF THE BOARD
"Matthew Turner"
Matthew Turner
Interim 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.
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.