Gold Lakes Corp (OTCMKTS:GLLK) Hits The OTC

Gold Lakes Corp (OTCMKTS:GLLK) has hit the OTC Markets with a bang. The company has quickly transformed into a price mover and a volume leader as a new gold mining play. The timing couldn't be any better as Brexit concerns have sent investors rushing into gold as a safe haven.Currently some of the smartest investors on Wall Street have been piling into gold. Among the latest big players buying the precious metal include billionaires George Soros, Stanley Druckenmiller, and John Paulsen. The uncertainty over the UK's decision to leave the EU will linger for quite some time and will keep the Federal Reserve on the sidelines from raising interest rates. This is bearish for the US dollar and a positive for gold prices.While the big players on Wall Street buy gold, smart penny stock investors can buy junior gold miners. Here is where the most money can be made because of their blue sky potential. The big miners like Barrick Gold, Newmont Mining and Goldcorp all started off like Gold Lakes Corp with small market caps. Today they have market caps of $24B, $20B, and $15B respectively.Gold Lakes Corp describes itself as "an exploration stage company that specializes in acquiring and developing mining assets. The Company's primary asset is known as the "Big Monty" property, located in the prolific Abitibi Greenstone Belt region, in Ontario, Canada. The Big Monty property is bordered by producing gold mines and is situated within the Procupine-Destor Fault Zone "PDFZ" and Larder Lake Cadillac Fault Zone."Investors need to keep in mind that for over a century, the legendary Abitibi-Greenstone belt has produced hundreds of billions of dollars' worth of mostly gold, silver, copper and zinc. Management believes that the untapped potential in this territory are advantageous; providing a wealth of opportunity for management and shareholders alike.To achieve its goals, Gold Lakes Corp has been boosting its advisory board with experienced mining experts. In May, the company added Edwin Morrow to its advisory board and as a consultant for supervising exploration activity. Most recently, particularly from 2010 until 2013, Morrow served as President and CEO of Liberty Coal Energy Corp. and Siga Resources, Inc., (Global Lakes Corporation’s former designation), both US OTC public companies. He is an experienced mining expert with a proven track record in multiple business sectors on a global scale, leveraging experience in the analysis of investment opportunities, raising capital, deal sourcing, financial structuring and growing businesses. GLLK President Christopher Vallos said:

“Mr. Morrow is a tremendous addition to our advisory team. His accomplishments and acquired knowledge in the industry will serve as an invaluable asset as we enter this next stage of rapid development. With his breadth of high level contacts in our sector across North America, and the corresponding governmental agencies, we expect that he will be influential in the initiation of numerous discussions concerning advantageous potential project acquisitions."

To accomplish its goals, GLLK has been cleaning up its balance sheet and just settled a $101,800 convertible debt. This eliminated the worries over dilution and greatly improves the company's long-term outlook. As penny stock investors know, one of the worst things that can happen to a microcap is dilution as those shares flood the market and destroy a company's shareholder base. With this debt settlement, shareholders can rest easy knowing management is on their side.Currently trading with a market cap of $28 million, GLLK looks to be a new and exciting story for penny stock investors. Judging by the recent jump in price on massive volume, it looks like there are some serious promo dollars behind GLLK that can really send the stock higher. Add in global market uncertainty, a climbing gold price, and market players on the hunt for the next Barrick Gold or Newmont Mining, we could easily see GLLK turn into a microcap runner rather quickly. We will be updating Insider Financial as soon as we know more. For continuing coverage on GLLK, sign up for our free newsletter and get The Insider Financial Guide To Penny Stocks as an added bonus!Disclosure: We have no position in GLLK and have not been compensated for this article.