GGL Resources Corp. (TSXV:GGL) ("GGL" or the "Company") announces a non-brokered private placement offering (the "Offering") to consist of the sale of up to 4,000,000 common shares at a price of $0.05 per share, to raise gross proceeds of up to $200,000.
Insiders may participate in the private placement and finders' fees or brokers' commissions may be paid in accordance with TSX Venture Exchange policies.
All securities issued as part of the Offering will be subject to a hold period in Canada of four months plus one day from closing. The proceeds from the Offering, which is subject to TSX Venture Exchange acceptance, will be used for exploration and development activities at the Company's McConnell Copper-Gold Project in the Kemess District of northern BC and the Gold Point Project in the Walker Lane Trend of western Nevada and for general working capital purposes.
Board and Management Changes
GGL announces the resignation of Doug Eaton as CEO and Director. Matthew Turner, a Director of GGL, will succeed Mr. Eaton as CEO on an interim basis.
"On behalf of the GGL Board and Shareholders, I want to sincerely thank Doug for his work over the past eight years as CEO of GGL and wish him the best in his future endeavors," stated Matthew Turner, GGL's Interim CEO. "Doug was instrumental in steering the Company from a chiefly diamond focused portfolio to a more diverse suite of precious and base metal projects, including GGL's evaluation of underexplored areas of Nevada, culminating in the recent staking and subsequent option of the Le Champ Porphyry target to Teck American Incorporated."
GGL has granted Matthew Turner incentive stock options entitling him to purchase up to a total of 150,000 common shares at a price of $0.05 until January 29, 2030. The options will vest on a quarterly basis commencing three months from the date of grant.
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. The Company 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. The Company 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 Colombia. GGL also holds diamond royalties on mineral leases adjacent to the Gahcho Kué diamond mine in the Northwest Territories.
ON BEHALF OF THE BOARD
"Matthew Turner"
Matthew Turner Director and Interim CEO
For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:
Investor Inquiries Richard Drechsler Corporate Communications Tel: (604) 687-2522 NA Toll-Free: (888) 688-2522 rdrechsler@strategicmetalsltd.com
Corporate Information Linda Knight Corporate Secretary Tel: (604) 688-0546 info@gglresourcescorp.com
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.
