GGL Diamond Corp.

GGL Diamond Corp.

March 16, 2005 18:24 ET

GGL Announces Completion of Private Placement Financing of $830,000


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GGL DIAMOND CORP.

TSX VENTURE SYMBOL: GGL

MARCH 16, 2005 - 18:24 ET

GGL Announces Completion of Private Placement
Financing of $830,000

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 16, 2005) - GGL
Diamond Corp. (TSX VENTURE:GGL)

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.

Raymond A. Hrkac, President of GGL Diamond Corp. announces that the
Company has completed a non-brokered private placement of 4,150,000
units at $0.20 per unit to raise $830,000. Each unit consists of one
common share and one-half non-transferable warrant with one whole
warrant entitling the holder to purchase one common share for a term of
two years at $0.25 in the first year and $0.30 in the second year. The
Company paid an 8% cash finder's fee in connection with part of this
private placement. The securities have hold periods expiring on July 8
and July 15, 2005.

The subscription proceeds will be used for exploration projects on the
Company's properties and for corporate and administrative expenses and
working capital.

GGL DIAMOND CORP.

Raymond A. Hrkac, President

The securities referred to herein have not been registered under the
U.S. Securities Act of 1993 and may not be offered or sold in the United
States or to a U.S. person absent registration or an applicable
exemption from registration.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    GGL Diamond Corp.
    Susan de Stein
    (604) 684-3376
    www.ggldiamond.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.