GGL Resources Corp. Announces Shares for Services Agreement
Wednesday, June 5, 2019 8:30 AM
VANCOUVER, BC / ACCESSWIRE / June 5, 2019 / GGL Resources Corp. (TSX-V: GGL) ("GGL" or the "Company") announces that it has entered into a "shares for services agreement" with Dave Kelsch Consulting Ltd. ("Kelsch Consulting"), a private company owned by David Kelsch, GGL's President, Chief Operating Officer and a Director, pursuant to the provisions of TSX Venture Exchange (the "Exchange") Policy 4.3. Pursuant to the agreement, Kelsch Consulting, which provides geological and other consulting services to GGL, will receive a minimum of 30% of its monthly consulting fee in cash, with the remaining amount to be satisfied by the issuance of GGL common shares, which shares will be issued at a deemed price per share equal to the volume weighted average price of GGL's shares as traded on the Exchange calculated at the end of each month in which the services are provided minus 50% of the discount permitted under applicable Exchange policies. The shares will be issued semi-annually and will be subject to a four month and one day hold period commencing upon the date of issuance. This agreement is subject to Exchange acceptance.
About GGL Resources Corp.
GGL is a Canadian-based junior exploration company focused on diamond exploration in Canada's north with key projects in Nunavut as well as the Lac de Gras diamond district in the Northwest Territories. Lac de Gras is home to Canada's first two diamond mines, the world class Diavik and Ekati mines discovered in the 1990's. In addition to GGL's key focus of diamond exploration, it holds diamond Royalties on mineral leases in close proximity to the Gahcho Kué diamond mine in the Northwest Territories. The Company also holds in portfolio several encouraging base metal and gold projects in British Columbia and the Northwest Territories.
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
W. Douglas Eaton
Chief Executive Officer and Director
For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:
Tel: (604) 688-0546
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
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.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: GGL Resources Corp.