GGX Gold Announces Flow Through Financing
Rhea-AI Summary
GGX Gold Corp. has announced a non-brokered private placement of up to 2 million flow-through shares at $0.16 each, aiming to raise gross proceeds of $320,000. The funds will be utilized for exploration activities at the Gold Drop Property in British Columbia. Each flow-through unit includes a common share and a purchase warrant priced at $0.20, valid for 18 months. The offering is subject to TSX-V approval, with potential finder’s fees applicable. There are inherent risks noted in forward-looking statements regarding future operations and market conditions.
Positive
- Private placement aims to raise $320,000 for exploration.
- Flow-through shares provide tax benefits for Canadian investors.
Negative
- The need for financing may indicate potential cash flow issues.
- Exploration is speculative, with no guarantees of success.
News Market Reaction – GGXXF
On the day this news was published, GGXXF gained 12.41%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC / ACCESSWIRE / November 25, 2020 / 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 2 million flow through shares at a price of
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
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, 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
On Behalf of the Board of Directors
Barry Brown, CEO
604-488-3900
Office@GGXgold.com
Investor Relations:
604-488-3900,
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 GGX Gold 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/618352/GGX-Gold-Announces-Flow-Through-Financing
FAQ
What is GGX Gold Corp.'s recent financing announcement on November 25, 2020?
How long are the warrants valid in the recent GGX financing?
What is the significance of flow-through shares for GGXXF investors?
What are the risks associated with GGX Gold Corp.'s exploration activities?
