GGX Gold closes $109,297 final tranche of financing
GGX GOLD HAS NOW CLOSED THE FINAL TRANCHE OF ITS PRIVATE PLACEMENT
GGX Gold Corp. has closed the final tranche of the private placement announced on Aug. 5, 2016, and Sept. 20, 2016, for total proceeds of $109,297 and totaling 728,646 units. Each unit of the financing comprises one common share at a price of 15 cents and one full share purchase warrant at a price of 20 cents per share, which may be exercised for a period of five years. The term of the warrants may be accelerated in the event that the issuer’s shares trade at or above a price of 25 cents per share for a period of 10 consecutive days. In such case of accelerated warrants, the issuer may give notice, in writing or by way of news release, to the subscribers that the warrants will expire 30 days from the date of providing such notice. The company announces Feb. 13, 2017, as the hold period expiry date for this final tranche of the private placement.
The company paid a cash commission of $9,298 and issued 30,000 broker warrants for this second tranche. The broker warrants have the same terms as the private placement warrants.