Business
GGL Resources Corp. Updates the Status of its Earn-In Agreement on its Gold Point High-Grade Gold-Silver Project, Nevada
VANCOUVER, BC / ACCESS Newswire / March 16, 2026 / GGL Resources Corp. (TSX-V:GGL) ("GGL" or ...
About this update from Ggl Resources Corp.
[{"type":"text","content":"GGL Resources Corp. Updates the Status of its Earn-In Agreement on its Gold Point High-Grade Gold-Silver Project, NevadaVANCOUVER, BC / ACCESS Newswire / March 16, 2026 / GGL Resources Corp. (TSX-V:GGL) (\"GGL\" or the \"Company\") is pleased to update the status of its agreement with ASX - listed Nelson Resources Limited (\"NES\"), which was previously announced on December 11, 2025, by which NES can acquire up to a 90% interest in GGL's high-grade, gold-silver Gold Point Project located in the Walker Lane District, Nevada.This agreement is subject to TSX Venture Exchange acceptance as well as GGL obtaining disinterested shareholder approval by way of written consents from disinterested shareholders holding greater than 50% of the total number of shares held by disinterested shareholders.Acquisition TermsUpon completion of the Acquisition, NES will acquire an initial 25% interest in the Gold Point Project by making the following payments to GGL:a cash payment of USD$191,617 (USD$141,617 being the reimbursement for exploration expenditures incurred by GGL on the Gold Point Project for the 2025 financial year and USD$50,000).the issue of the number of NES shares (\"Consideration Shares\") equivalent to the value of AUD$325,000 at a deemed issue price equal to the 20-day volume weighted average price (\"VWAP\") of shares trading on the ASX immediately prior to the date of the binding documentation / announcement of the transaction. These shares will be subject to voluntary escrow for 12 months from the date of issue;the issue of 1,094,166,666 Performance Rights will be granted to GGL upon closing and will vest in two tranches subject to meeting certain conditions as outlined below under the heading \"Performance Rights\"; once vested, NES will have the right to pay in shares or in cash. If NES elects to pay in shares, at any time between receipt of a vesting notice and the expiry date (five years from date of issue) GGL may apply to exercise the Performance Rights by delivering a signed notice of exercise to NES's Company Secretary specifying the number and tranche of Performance Rights to be exercised by GGL.; and,a 2% net smelter returns royalty on all minerals extracted from the Gold Point Project. NES will have the right to buy-back 50% of the royalty for a cash payment of up to USD$1,000,000 to GGL, which may be exercised by ...