GGX Gold Corp (CVE:GGX) announced today that it has closed the first and second tranches of its private placement, with gross proceeds of C$337,100 for the first tranche and C$58,500 for the second tranche. The private placement was announced on May 17, 2018.
Each unit will comprise one common share at a price of C$0.12 per share and a full share purchase warrant at a price of C$0.15 per share. The full share purchase warrant may be exercised for a period of three years. The hold expiry date for the first trance is Sept. 25, 2018 and Oct. 5, 2018, for the second tranche of the private placement, according to the company.
Funds raised will be used for general working capital and continued exploration work, including diamond drilling and trenching at the company's Gold Drop property near Greenwood in southern British Columbia.