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Press Release

GGL ANNOUNCES A PRIVATE PLACEMENT OF UNITS
July 22, 2015
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NEWS RELEASE                                                                                                                                  JULY 22, 2015

                                      GGL ANNOUNCES A PRIVATE PLACEMENT OF UNITS 

Vancouver, British Columbia – July 22, 2015 – GGL Resources Corp. (TSXV: GGL): (the "Company") Mr. Ray Hrkac, Chairman and CEO, announces that the Company will undertake a non-brokered private placement financing of up to 20.5 million units, at a price of $0.02 per unit, to raise gross proceeds of up to $410,000.  Each unit comprises one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase an additional common share for a term of three years from the closing date at a price of $0.05 per share.  Insiders will be participating in this financing.  All securities issued will be subject to a four month hold from date of closing. 

The financing is subject to the approval of the TSX Venture Exchange; however, in regards to the pricing of this financing at $0.02, the Company has had its filings accepted by the TSX Venture Exchange. 

Proceeds of the financing will be used to maintain the Company’s existing activities and will not be used to fund the purchase or pursuit of new business operations and activities, or pay management fees.  In particular, it is anticipated that the aggregate gross proceeds of the Private Placement will be used as follows:

 

-costs involved in conducting the Private Placement, including legal fees and filing fees $      8,500
-annual property tenure holding costs       93,000
-annual corporate holding costs including sustaining fees, transfer agent fees, quarterly and annual reporting, annual general meeting, annual audit, annual accounting costs and all other such costs     125,000
-costs to complete an exploration program approved under the NWT Mineral Incentive program       99,590
-working capital       83,910
 TOTAL $410,000
  

On behalf of the Board,

  

Raymond A. Hrkac

 

Raymond A. Hrkac

Chairman & CEO

 

For further information, please phone: (604) 688-0546 Email:  info@gglresourcescorp.com.  For more information, please check our web site at www.gglresourcescorp.com.

 

Neither the 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.

 
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