Strategic Metals Ltd. Announces Acquisition of Additional Securities of GGL Resources Corp. and Provides Update ON the Filing of Interim Financial Statements
STRATEGIC METALS LTD. ANNOUNCES ACQUISITION OF ADDITIONAL SECURITIES
OF GGL RESOURCES CORP. AND PROVIDES UPDATE ON THE FILING OF INTERIM
FINANCIAL STATEMENTS
May 19, 2020 – Strategic Metals Ltd. (TSX -V: SMD) (“Strategic”) announces that on May 15, 2020 it
purchased 2,000,000 common shares of GGL Resources Corp. (“GGL”) at a price of $0.05 per share
pursuant to a private placement for total cash consideration of $100,000.
Immediately prior to Strategic’s acquisition of these 2,000,000 common shares , it held 11,562,500
common shares of GGL, representing 42.37% of the 27,286,722 common shares of GGL then issued and
outstanding. As a result of this acquisition , Strategic currently holds 13,562,500 commo n shares of
GGL, representing 46.31% of the 29,286,722 common shares of GGL currently issued and outstanding.
The securities of GGL disclosed herein are held by Strategic for investment purposes. Strategic may
increase or decrease its ownership of securities of GGL in the future, depending upon market conditions.
There are no persons acting jointly or in concert with Strategic with respect to its security holdings in
GGL, nor has it entered into any agreements with respect to its security holdings in GGL with any other
person or persons.
A copy of St rategic’s Early Warning Report required to be filed by Strategic in connection with its
acquisition of these 2,000,000 shares of GGL will be available on SEDAR at www.sedar.com and may be
obtained from Strategic at the address set forth below:
Strategic Metals Ltd.
Suite 1016 – 510 West Hastings Street
Vancouver, B.C. V6B 1L8
This news release is being issued pursuant to National Instrument 62 -103, which also requires that
Strategic file the Early Warning Report with each of the British Columbia and Alberta Securities
Commissions containing information with respect to its security holdings in GGL.
Strategic also announces that as a result of the COVID-19 pandemic, it has experienced delays associated
with the limited availability of its internal accountants in connection with the preparation of its interim
financial statements and related Management’s Discussion and Analysis (“MD &A”) for the period ended
March 31, 2020. In re sponse to similar issues experienced by other businesses, the Canadian Securities
Administrators have granted blanket relief for all market participants, providing up to a 45 -day extension
for periodic filings normally required to be made on or before May 30, 2020.
In accordance with the blanket relief, Strategic will delay the filing of its interim financial statements for
the period ended March 31, 2020, the MD & A for the corresponding period and related management
certifications of interim filings. St rategic intends to file these documents prior to mid -June under the
terms of the 45-day extension announced by the British Columbia Securities Commission under BCI 51 -
515, dated March 23, 2020. Until such time as the filings are made, Strategic’s manageme nt and other
insiders are subject to a trading blackout that reflects the principles contained in Section 9 of National
Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions.
2
Other than as disclosed in Stratetgic’s p ress releases, there have not been any material business
developments since the date on which it filed its annual financial s tatements and related MD & A for the
fiscal year ended December 31, 2019.
ON BEHALF OF THE BOARD
“W. Douglas Eaton”
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at
www.strategicmetalsltd.com or contact:
Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
http://www.strategicmetalsltd.com
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.