GGL Resources Corp. Closes Private Placement

Vancouver, BC / ACCESSWIRE / August 15, 2024 / GGL Resources Corp. (TSXV:GGL) has announced the closure of its non-brokered private placement. The placement raised total proceeds of $300,000 through the sale of 6,000,000 common shares at $0.05 per share.

Each of the securities issued in this private placement is subject to a hold period in Canada until December 15, 2024. The funds will be utilized for exploration and development activities at GGL's Gold Point Project in the Walker Lane Trend, western Nevada, as well as for general working capital purposes.

Insiders of GGL acquired 5,400,000 common shares in this transaction, which is categorized as a related party transaction. The company relied on specific exemptions from formal valuation and minority shareholder approval under TSX-V Policy 5.9 and Multilateral Instrument 61-101.