Vancouver, British Columbia (FSCwire) - GGX Gold Corp. (TSXV: GGX), (OTC Pinks: GGXXF), (the “Company” or “GGX”) is pleased to announce that is has arranged a non-brokered private placement of 2.5 million units at a price of $0.10 cents per unit for gross proceeds of $250,000. The units of the financing will comprise of one common share and a full share purchase warrant, which may be exercised for a period of three years at a price of $0.15 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 $0.20 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. 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.
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.
