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GGX Gold has announced two non-brokered private placements

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GGX plans to raise gross proceeds of up to $700,000 from a non-flow-through offering of up to 3.5 million units priced at $0.20 per unit. They also plan to raise gross proceeds of up to $1,050,000 from a flow-through offering of up to 3.5 million units priced at $.30 per unit.

Additional Information:

Company: GGX Gold
Website: http://www.ggxgold.com
Stock Symbol: TSXV: GGX
Date Published: Jun 19, 2019
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

GGX Gold has announced two non-brokered private placements.

The company plans to raise gross proceeds of up to $700,000 from a non-flow-through offering of up to 3.5 million units priced at $0.20 per unit.

Each non-flow-through unit consists of one share and one warrant with the warrant exercisable at $0.30 for 18 months.

The company also plans to raise gross proceeds of up to $1,050,000 from a flow-through offering of up to 3.5 million units priced at $.30 per unit.

Each flow-through unit consists of one share and one-half a warrant with each full warrant exercisable for a non-flow-through share at $0.35 for 18 months.

The warrants from both offerings are subject to acceleration clauses.

The company recently completed 20 diamond drill holes, for a total of 1217 meters cored, on the C.O.D. vein at the Gold Drop Property in the Greenwood Mining Camp in southern British Columbia.

The company deployed one drill rig for in-fill drilling on the C.O.D. vein to explore the vein between and below the significant intercepts obtained last year.

Ten holes intersected the C.O.D. quartz vein at their target depths, of which eight vein intercepts were visibly mineralized with pyrite.

Two of the intercepts also contained possible telluride mineralization and one intercept contained visible gold.

In the C.O.D. vein, elevated silver, gold and tellurium values are associated with a silver-grey mineral thought to be the telluride mineral named sylvanite

The highlights of the 2018 diamond drilling program were drill holes COD18-67 and COD18-70 that intersected near-surface, high-grade gold, silver and tellurium in a newly discovered southern extension of the C.O.D vein.

Further exploratory drilling is also being planned to further test the southern extension of the C.O.D. vein, on the Everest vein that was discovered in 2018, and on the C.O.D. North vein.

The shares are trading at $0.30 following a recent 1 for 3 consolidation.

For more information, please visit the company’s website at www.ggxgold.com, contact George Sookochoff, President, at 604-488-3900 or email george@GGXgold.com.

For Investor Relations contact Jack Singh at 604-720-6598 or email at ir@ggxgold.com.

I’m Cassandra Bolinski for Investmentpitch Media