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GGL Resources Corp. Announces Closing of Initial Tranche of Private Placement
VANCOUVER, BC / ACCESS Newswire / July 24, 2025 / GGL Resources Corp. (TSX-V:GGL) ("GGL" or t...
About this update from Ggl Resources Corp.
[{"type":"text","content":"GGL Resources Corp. Announces Closing of Initial Tranche of Private PlacementVANCOUVER, BC / ACCESS Newswire / July 24, 2025 / GGL Resources Corp. (TSX-V:GGL) (\"GGL\" or the \"Company\") announces that it has closed the initial tranche of its previously-announced non-brokered private placement for total proceeds of $350,000 (see GGL's news release dated June 24, 2025). GGL also anticipates that it may close a second tranche pursuant to applicable TSX Venture Exchange policy on or before August 8, 2025 - further information in that regard will be disseminated in due course.The initial tranche consisted of the sale of a total of 7,000,000 units at a price of $0.05 each, each unit consisting of one common share and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.10 until July 24, 2027.All of the shares issued pursuant to the initial tranche, including any shares that may be issued pursuant to the exercise of the warrants, are subject to a hold period in Canada until November 25, 2025. The proceeds from this private placement will be used to fund exploration activities on the Company's United States and Canadian based exploration projects and for general working capital purposes.Insiders of GGL purchased a total of 980,000 units pursuant to the initial tranche. The participation of these insiders in the initial tranche constituted a related party transaction within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101 - \"Protection of Minority Security Holders in Special Transactions\" (\"MI 61-101\"). GGL has relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the fair market value (as determined under MI 61-101) of insider participation in the private placement does not exceed 25% of GGL's market capitalization.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 pr...