Strategic Metals Ltd. Announces Acquisition of Securities of GGL Resources Corp.
VANCOUVER, British Columbia, Nov.03, 2017(GLOBE NEWSWIRE) -- Strategic Metals Ltd. (TSX-V:SMD) ("Strategic") announces the acquisition of 10 million common shares of GGL Resources Corp. ("GGL") at a price of $0.10 per share (the "Acquired Shares") pursuant to a private placement, in conjunction with GGL's restructuring plan, as disclosed in GGL's October 31, 2017 news release.
Prior to Strategic's acquisition of the Acquired Shares, it held no securities of GGL.As a result of the acquisition of the Acquired Shares, Strategic now holds 10 million common shares of GGL, representing approximately 45.26% of GGL's currently issued and outstanding common share capital.
Strategic acquired the Acquired Shares for investment purposes. Depending on market conditions and other factors, Strategic may from time to time acquire and/or dispose of securities of GGL or continue to hold its current position.A copy of Strategic's Early Warning Report required to be filed by Strategic in connection with its acquisition of the Acquired Shares will be available on SEDAR at www.sedar.com and may be obtained from Strategic at the address set forth below:
Strategic Metals Ltd.
Suite 1016 - 510 West Hastings Street
Vancouver, B.C. V6B 1L8
This news release is being issued pursuant to National Instrument 62-103, which also requires that Strategic file the Early Warning Report with each of the British Columbia and Alberta Securities Commissions containing information with respect to its securityholdings in GGL.
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:
| Corporate Information Strategic Metals Ltd. W. Douglas Eaton President and C.E.O. Tel: (604) 688-2568 | Investor Inquiries Richard Drechsler V.P. Communications Tel: (604) 687-2522 NA Toll-Free: (888) 688-2522 rdrechsler@strategicmetalsltd.com http://www.strategicmetalsltd.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.
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.