GGX Gold Corp Announces Financing

Rhea-AI Summary

GGX Gold Corp is initiating a non-brokered private placement of up to 5 million flow-through shares priced at $0.15 each, aiming for gross proceeds of $750,000. The funds will support ongoing exploration on the Gold Drop Property located in British Columbia's Greenwood mining camp. Each share will come with a warrant allowing the purchase of an additional share at $0.20 within 18 months post-closing. Participation from insiders is expected, with securities subject to a four-month hold period pending TSX-V approval.

Positive

• Initiation of a $750,000 private placement to fund exploration activities.
• Opportunity for investors to purchase shares at a lower price with attached warrants.

Negative

• Dependence on market conditions for financing and exploration results.
• Inherent risks associated with resource exploration and potential regulatory hurdles.

VANCOUVER, BC / ACCESSWIRE / April 1, -2022 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to announce it has arranged a non-brokered private placement of up to 5 million flow through shares at a price of $0.15 per share for gross proceeds of $750,000. Proceeds from the private placement will be used for the continued exploration work on the Gold Drop Property in the Greenwood mining camp of south-central British Columbia.

Each flow-through unit will comprise of one common share (which is a flow-through share for Canadian income tax purposes) and one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at the price of $0.20 for 18 months after closing.

A finder's fee may be paid to eligible finders in accordance to the TSX-V policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offerings and payment of finders' fees are both subject to approval by the TSX-V.

Directors, officers or other insiders of the Company may participate in the foregoing offerings.

On Behalf of the Board of Directors
Quinn Field - Dyte, President

604-488-3900
Office@GGXgold.com

Investor Relations: IR@GGXgold.com

Forward Looking Statement

This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition of certain mineral claims. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Revolver undertakes no obligation to update such statements, except as required by law.

Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, 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; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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

SOURCE: GGX Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/695750/GGX-Gold-Corp-Announces-Financing

FAQ

What is GGX Gold Corp's recent funding announcement?

GGX Gold Corp announced a private placement for up to 5 million flow-through shares at $0.15 each, raising $750,000 for exploration.

How will GGX Gold Corp use the proceeds from the private placement?

The proceeds will be allocated to continued exploration on the Gold Drop Property in British Columbia.

What are the terms of the warrants associated with the private placement?

Each warrant allows the purchase of an additional common share at $0.20 for 18 months after closing.

Are insiders participating in the private placement of GGX Gold Corp?

Yes, directors, officers, or other insiders may participate in the private placement.

What risks do investors face with GGX Gold Corp's exploration?

Investors face risks including market fluctuations, regulatory challenges, and uncertainties in resource exploration.