| Vancouver, British Columbia – May 18, 2022 – GGX Gold Corp. (TSX-V: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or “GGX”) is pleased to announce that it has closed the non-brokered private placement previously announced on April 1, 2022, by issuing 2,012,333 units at a price of $0.15 cents per unit for gross proceeds of $301,850. Each flow-through unit will comprise of one common share (which is a flow-through share for Canadian income tax purposes) and one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at the price of $0.20 for 18 months after closing. Proceeds from the private placement will be used for the continued exploration work on the Gold Drop Property in the Greenwood mining camp of south-central British Columbia. The Company paid a cash commission of $14,715 and issued 49,050 broker warrants to EMD Financial Inc. and paid $700 and issued 4,667 broker warrants to PI Financial Corp. The broker warrants have the same terms as the private placement warrants. All securities issued in connection with the Offering will be subject to a hold period expiring September 14, 2022. The closing of the private placement is subject to final TSX-V approval. |
| On Behalf of the Board of Directors Quinn Field-Dyte, President 604-488-3900 Office@GGXgold.com Investor Relations: IR@GGXgold.com |
