GGX Gold Earns 100% interest in Gold Drop Property
GGX Gold Earns 100% interest in Gold Drop Property
Vancouver, British Columbia – June 2, 2020 – GGX Gold Corp. (TSX -v: GGX), (OTCQB: GGXXF), (FRA:
3SR2) (the “Company” or “GGX”) is pleased to announce that it has acquired a 100% interest in the Gold Drop
property in the Greenwood Mining Camp, southern British Columbia.
The Company has acquired a 100% interest, subject to a 2.5% net smelter returns royalty which the Company may
buy down 1 per cent of the NSR royalty by paying $1 million, from Ximen Mining Corp. The Company would
like to thank Ximen Mining Corp. for supporting GGX Gol d to develop and advance the exploration success at
the Gold Drop project.
The Company also announces that is has arranged a non-brokered private placement of 4 million units at a price
of $0.075 per unit for gross proceeds of $300,000. The units of the financing will comprise of one common 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 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 prope rty near Greenwood in Southern
British Columbia.
Directors, officers or other insiders of the Company may participate in the foregoing offerings, and such parties
may sell securities of the Company owned or controlled by them personally through the facilit ies of the TSX
Venture Exchange to finance participation in such offerings.
A finder's fee may be paid to eligible finders in accordance to the TSX -V policies. All securities issued pursuant
to the offering will be subject to a hold period of four months and one day from the date of closing. The offerings
and payment of finders' fees are both subject to approval by the TSX-V
On Behalf of the Board of Directors
Barry Brown, CEO
604-488-3900
Investor Relations:
604-488-3900,
June 2, 2020 TSX.V : GGX
FRA : 3SR2
OTCQB : GGXXF
GGX Gold News Release
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 unc ertainties. Actual results may differ materially from those currently anticipated in such statements and GGX
Gold undertakes no obligation to update such statements, except as required by law.
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 impr ove; the Company will be able to obtain required
exploration licences and 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 regula tions 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 suit able
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 does 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 V enture 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