GGX Gold closes $150,000 final tranche of financing
2020-07-10 16:35 ET - News Release
Mr. Barry Brown reports
GGX GOLD CLOSES FINANCING
GGX Gold Corp. has closed the final tranche of the private placement announced on June 2, 2020, for gross proceeds of $150,000. Each unit of the financing will comprise of one common share at a price of $0.075 per share and a full share purchase warrant, which may be exercised for a period of two years at a price of $0.12 per share. The term of the warrants may be accelerated in the event that the issuer's shares trade at or above a price of $0.15 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 November 10, 2020 as the hold expiry date for this final tranche.
The proceeds of the private placement will be used for general working capital and continued exploration work including diamond drilling and trenching at the Company's Gold Drop property near Greenwood in Southern British Columbia.
The Company also announces that it has granted 400,000 stock options at an exercise price of $0.22 to its directors, officers, employees and consultants. The options are exercisable for five years and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the Company. The stock options are not transferable and will be subject to a four-month hold period from the date of grant and any applicable regulatory acceptance.
We seek Safe Harbor.