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GGL GGL Resources Corp

0.04
0.00 (0.00%)
27 Sep 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
GGL Resources Corp TSXV:GGL TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.04 0.04 0.045 0 01:00:00

GGL Resources Corp.: Closing of the Flow-Through Private Placement

31/01/2013 8:54pm

Marketwired Canada


NOT FOR DISSEMINATION IN THE UNITED STATES

Raymond A. Hrkac, President and CEO of GGL Resources Corp. (TSX VENTURE:GGL)
announces that GGL has closed its non-brokered private placement of flow-through
units originally announced August 9 and amended August 22, 2012.


1,200,000 flow-through units at $0.05 per unit were placed for gross proceeds of
$60,000. Each flow-through unit consists of one flow-through common share and
one non-transferable common share purchase warrant. Each warrant will entitle
the holder to purchase one non flow-through common share until January 24, 2016
at $0.10 per share, subject to an Acceleration Event. The securities for this
closing have a hold period until May 25, 2013.


If GGL's common shares trade on the TSX Venture Exchange ("TSXV") at a closing
price greater than $0.40 per share for twenty consecutive trading days at any
time after four months and one day from the closing date, GGL may accelerate the
expiry of the warrants by giving notice to the holders thereof, and in such case
the warrants will expire on the 30th day after the date on which such notice is
given ("Acceleration Event").


The proceeds from the sale of flow-through common shares will be used to incur
Canadian Exploration Expense ("CEE"), as defined in the Income Tax Act (Canada).
GGL will renounce such CEE to the subscribers effective for the 2012 tax year.


About GGL

GGL is a diversified mineral exploration company. GGL holds mineral claims and
leases in the Northwest Territories of Canada ("NT") prospective for gold,
silver, nickel, base metals and diamonds. All of the NT holdings are wholly
owned by GGL, except for the Doyle Diamond Project where De Beers Canada Inc.
has a 60% interest and GGL a 40% carried interest. In British Columbia, Canada,
GGL owns a 100% interest in the McConnell Creek gold and copper-gold Property.


GGL RESOURCES CORP.

Raymond A. Hrkac, President & CEO

Forward-Looking Information: This news release contains "forward-looking
statements" and the cautions regarding such statements apply.


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered in the United States Securities Act of 1933, as
amended (the "US Securities Act") or any state securities laws and may not be
offered or sold within the United States or to US Persons unless registered
under the US Securities Act and applicable securities laws or an exemption from
such registration is available.


FOR FURTHER INFORMATION PLEASE CONTACT: 
GGL Resources Corp.
Ray Hrkac
info@gglresourcescorp.com
www.gglresourcescorp.com

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