GGL Resources Corp. Announces Closing of Final Tranche of Private Placement

Executive Summary

• GGL Resources Corp. closed the second and final tranche of its non‑brokered private placement, raising $75,000.
• The tranche consisted of 1,500,000 units sold at $0.05 per unit, each unit containing one common share and one warrant (exercise price $0.10, expiry Oct 9 2027).
• Proceeds will be used to fund exploration projects in the United States and Canada and for general working purposes.

Key Details

• Units sold: 1,500,000 units @ $0.05 each → gross proceeds of $75,000.
• Unit composition: 1 common share + 1 common share purchase warrant per unit.
• Warrant terms: Right to purchase one additional common share at $0.10; exercisable until Oct 9 2027.
• Hold period: All shares issued (including those from warrant exercises) are subject to a hold period in Canada until Feb 10 2026.
• Insider participation: An insider purchased 200,000 units; transaction qualifies as a related‑party transaction under TSX‑V Policy 5.9 and MI 61‑101.
• Exemption reliance: GGL relied on exemptions from formal valuation and minority shareholder approval (sections 5.5(a) & 5.7(a) of MI 61‑101) because insider participation did not exceed 25% of market capitalization.
• Use of proceeds: Funding exploration activities on U.S. and Canadian projects; general working purposes.

Notable Quotes

• “The successful completion of this financing provides us with the capital needed to advance our high‑potential exploration targets across North America.” – Matthew Turner, Interim CEO & Director.