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GGL GGL Resources Corp

0.045
-0.01 (-18.18%)
28 Jun 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
  -0.01 -18.18% 0.045 0.045 0.06 0.05 0.045 0.05 3,000 19:26:55

GGL Resources Corp.: Private Placement to Raise Up to $120,000 of Flow-Through Funds

09/08/2012 1:00pm

Marketwired Canada


NOT FOR DISSEMINATION IN THE UNITED STATES

Mr. Raymond Hrkac, President, GGL Resources Corp. (TSX VENTURE:GGL) ("GGL")
announces that the Company intends to raise up to $120,000 by way of a non-
brokered private placement of flow-through units at a price of $0.05 per unit.
Each flow-through unit will consist of one flow-through common share and one
non-transferable non flow-through warrant. Each warrant will entitle the holder
to purchase one non flow-through common share for three years from the closing
date at $0.10 per share, subject to an Acceleration Event.


If GGL's common shares trade on the TSX Venture Exchange 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.


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.


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.


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