GGX Gold Closes Private Placement
Vancouver, British Columbia – July 6, 2018 – GGX Gold Corp. (TSXV: GGX) (the “Company” or “GGX”) is pleased to announce that is has closed the first and the second tranches of the private placement announced on June 11, 2018 for gross proceeds of $362,000. A total of $162,000 for the first tranche and $200,000 for the second tranche. Each Flow-Through Unit consists of one common share that qualifies as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act and one [non-]transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 12 months from the date of issue, one additional non-flow-through common share of the Issuer at an exercise price of Cdn$0.15 per share. The Company announces October 28, 2018 as the hold expiry date for the first tranche and October 29, 2018 for the second tranche of the private placement.
The Company now has sufficient funds to complete its planned summer exploration program on the Gold Drop property near Greenwood in Southern British Columbia.
The Company paid a cash commission of $12,960.00 to Canaccord Genuity Corp. and $16,000.00 to Leede Jones Gable Inc. The Company also issued 108,000 broker warrants to Canaccord Genuity Corp. and 133,333 broker warrants to Leede Jones Gable Inc. The broker warrants have the same terms as the private placement warrants.
About GGX Gold Corp.
GGX Gold Corp. has an option to acquire a 100% interest in the Gold Drop Property located in southern British Columbia near Greenwood, B.C. GGX Gold is undertaking an extensive Trenching and Drill program in the spring and summer of 2018. GGX Gold also owns a nine percent share in a private syndicate which owns extensive land holdings within British Columbia’s Golden Triangle.
On Behalf of the Board of Directors,
Barry Brown, Director
Mr. Jack Singh, 604-488-3900 email@example.com
“ We don’t have to do this, we get to do this ”
Remember the old saying :
‘ We Drill for Structure …and… We drift for Grade ’
Forward Looking Information
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed at the Gold Drop Property. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.