GGL GGL Resources Corp

NOT FOR DISSEMINATION IN THE UNITED STATES

Raymond A. Hrkac, President and CEO of GGL Resources Corp. (TSX VENTURE:GGL)
announces that GGL has had an initial closing of its non-brokered private
placement originally announced on July 4, 2012. Up to 3,000,000 non-flow-through
units each at a price of $0.05 per unit will be sold.


In the initial closing, 2,400,000 non flow-through units at $0.05 per unit were
placed for gross proceeds of $120,000. Each non flow-through unit consists of
one non 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 August 17, 2017 at $0.10 per share, subject to an
Acceleration Event. The securities for this initial closing have a hold period
until December 18, 2012.


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 the units will be used for general exploration
work and for general corporate purposes. Future closings of the private
placement are subject to acceptance for filing by the TSXV.


Flow-through units

On August 9, 2012, Mr. Hrkac announced 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. Originally each
warrant would 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 (see above definition). The Company will be relying on the
recently announced TSXV Temporary Relief Measures to change the warrant's
exercise price to $0.05 per share during the first year and $0.10 per share for
years two and three, subject to an Acceleration Event and meeting the TSXV
requirements.


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.


The private placement is subject to acceptance for filing by the TSXV.

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.

GGL Resources (TSXV:GGL)
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から 5 2024 まで 6 2024

GGL Resources (TSXV:GGL)
過去 株価チャート
から 6 2023 まで 6 2024