|By Marketwired .||
|August 21, 2014 08:00 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/21/14 -- Raymond A. Hrkac, President and CEO of GGL Resources Corp. (TSX VENTURE: GGL) (the "Company"), announces that the Company is set to alter its share capital by consolidating all of its issued and outstanding common shares on the basis of five (5) old for one (1) new common share (the "Consolidation"), subject to the approval of the TSX Venture Exchange. The Consolidation was approved by the shareholders of the Company at the annual general and special meeting held on August 14, 2013.
As at the date hereof, the Company has 166,173,693 common shares issued and outstanding. After giving effect to the proposed consolidation, the Company will have approximately 33,234,738 common shares issued and outstanding. No fractional shares will be issued. Any fraction of a share resulting from the Consolidation will be rounded down to the nearest whole number, if less than one-half of one share, and rounded up, if at least one-half of one share.
The Company does not intend to change its name upon completion of the Consolidation and anticipates that its stock symbol will remain the same.
Management of the Company believes that an amendment to the Company's share structure will be favourable to assist in attracting additional equity investment in the Company.
On behalf of the Board,
Raymond A. Hrkac, President & CEO
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.
Forward-Looking Information: This news release contains "forward-looking statements" and the cautions regarding such statements apply.