GGX GOLD CORP ANNOUNCES PRIVATE PLACEMENT
GGX Gold arranges $1.75-million private placement
2019-06-18 20:02 ET - News Release
Mr. George Sookochoff reports
GGX GOLD CORP ANNOUNCES PRIVATE PLACEMENT
GGX Gold Corp. has arranged a non-brokered private placement of up to $700,000 in non-flow-through financing and up to $1.05-million in flow-through financing. Proceeds from the private placement will be used for the continued exploration work on the Gold Drop property, potential project acquisitions, property option payments as well as general working capital.
The offering will consist of flow-through units priced at 30 cents and non-flow-through units priced at 20 cents.
Each flow-through unit will comprise one common share (which is a flow-through share for Canadian income tax purposes) and one-half share purchase warrant.
Each whole flow-through warrant will entitle the holder to purchase one additional common share which is not a flow-through share at the price of 35 cents for 18 months after closing. The term of the warrants may be accelerated in the event that the issuer's shares trade at or above a price of 40 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 20 days from the date of providing such notice.
Each non-flow-through unit will comprise one common share and one share purchase warrant. Each non-flow-through warrant will entitle the holder to purchase one additional common share at the price of 30 cents for a period of 18 months after closing. The term of the warrants may be accelerated in the event that the issuer's shares trade at or above a price of 40 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 20 days from the date of providing such notice.
A finder's fee may be paid to eligible finders in accordance to the TSX Venture Exchange 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, and such parties may sell securities of the company owned or controlled by them personally through the facilities of the TSX Venture Exchange to finance participation in such offerings.
We seek Safe Harbor.