Vancouver, British Columbia (FSCwire) - GGX GOLD CORP. (TSXV.GGX) (the “Company” or “GGX Gold”) is pleased to announce that it has closed the first and the final tranches of the private placement announced on April 10, 13 and 17, 2017 for gross proceeds of $272,550 for the first tranche and $124,950 for the final tranche Each unit of the financing comprises of one common share at a price of 7.5 cents and a full share purchase warrant, which may be exercised for a period of five years at a price of 10 cents 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 15 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 30 days from the date of providing such notice. The Company announces August 21, 2017 as the hold period expiry date for the first tranche and August 28, 2017 for the final tranche of the private placement.
The Company paid a cash commission of $10,875 and issued 145,000 broker warrants for the first tranche and a cash commission of $$1,125 and issued 15,000 broker warrants for the final tranche. The broker warrants have the same terms as the private placement warrants.
