GGX Gold Closes Financing
GGX Gold Closes Financing
Vancouver, British Columbia – July 10, 2020 – GGX Gold Corp. (TSX -v: GGX), (OTCQB: GGXXF), (FRA:
3SR2) (the “Company” or “GGX”) is pleased to announce that is has closed the f inal tranche of the private
placement announced on June 2, 2020 for gross proceeds of $150,000. Each unit of the financing will comprise of
one common share at a price of $0.075 per share and a full share purchase warrant, which may be exercised for a
period of two years at a price of $0.12 per share. The term of the warrants may be accelerated in the event that the
issuer's shares trade at or above a price of $0.15 per share for a period of 10 consecutive days. In such case of
accelerated warrants, the issuer may give notice, in writing or by way of news release , to the subscribers that the
warrants will expire 30 days from the date of providing such notice. The Company announces November 10, 2020
as the hold expiry date for this final tranche.
The proceeds of the private placement will be used for general working capital and continued exploration work
including diamond drilling and trenching at the Company’s Gold Drop property near Greenwood in Southern
British Columbia.
The Company also announces that it has granted 400,000 stock options at an exercise price of $0.22 to its directors,
officers, employees and consultants. The options are exercisable for five years and will be cancelled 30 days after
cessation of acting as director, officer, employee or consultant of the Company. The stock options ar e not
transferable and will be subject to a four -month hold period from the date of grant and any applicable regulatory
acceptance.
On Behalf of the Board of Directors
Barry Brown, CEO
604-488-3900
Investor Relations:
604-488-3900,
Forward Looking Statement
This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition
of certain mineral claims. Forward -looking statements address future events and conditions and therefore involve inherent
risks and uncertainties. Actual results may differ materially from those currently a nticipated in such statements and GGX
Gold undertakes no obligation to update such statements, except as required by law.
July 10, 2020 TSX.V : GGX
FRA : 3SR2
OTCQB : GGXXF
GGX Gold News Release
Forward-looking statements are based on the then -current expectations, beliefs, assumptions, estimates and forecasts about
the business and the industry and markets in which the Company operates, including that: the current price of and demand
for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required
exploration licences a nd other permits; general business and economic conditions will not change in a material adverse
manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material
accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which
are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including:
that resource exploration and development is a speculative business; that environmental laws and regulations may become
more onerous; that the Company may not be able to raise additional funds when necessary; fluctuations in currency exchange
rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable
acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s public filings.
These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not
place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary
statement. There can be no assurance that forward -looking information, or the material factors or assumptions used to
develop such forward looking information, will prove to be accurate. The Company doe s not undertake any obligations to
release publicly any revisions for updating any voluntary forward -looking statements, except as required by applicable
securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is d efined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release