GGL Resources ( (TSE:GGL) ) has shared an announcement.
GGL Resources Corp. has successfully closed a non-brokered private placement, raising $200,000 through the sale of 4,000,000 common shares at $0.05 each. The funds will be directed towards exploration and development activities at the McConnell Copper-Gold Project in British Columbia and the Gold Point Project in Nevada, as well as for general working capital. Notably, insiders purchased 3,200,000 shares, constituting a related party transaction, but exemptions were applied due to the transaction’s value not exceeding 25% of GGL’s market capitalization. This strategic move is expected to bolster GGL’s exploration efforts, potentially enhancing its industry positioning and offering growth opportunities for stakeholders.
More about GGL Resources
GGL Resources Corp. is a Canadian-based junior exploration company that focuses on exploring and advancing undervalued mineral assets in politically stable, mining-friendly jurisdictions. The company holds claims in the Gold Point district of the Walker Lane Trend in Nevada, which includes several gold-silver veins and a new porphyry target. Additionally, GGL owns the McConnell Project in British Columbia and holds diamond royalties on mineral leases near the Gahcho Kué and Ekati diamond mines in the Northwest Territories.
YTD Price Performance: 11.11%
Average Trading Volume: 52,808
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$4.59M
For a thorough assessment of GGL stock, go to TipRanks’ Stock Analysis page.