MONTREAL, QUEBEC--(Marketwired - Nov. 18, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Glen Eagle Resources Inc. (TSX VENTURE:GER) (the "Company") is pleased to announce that it has held a closing of a non-brokered private placement. The Company has issued an aggregate of 3,142,858 "flow-through" shares at a price of $0.14 per share, for total gross proceeds of $440,000 (the "Offering").
In consideration for their services, Secutor Capital Management Corp. received a finder's fee equal to 8% of the gross proceeds of the Offering and 8% of shares issued in broker warrants which will entitle the holder to purchase one common share at a price of $0.15 for a period 24 months.
All securities issued pursuant to the Offering are subject to a hold period ending on March 19, 2015. As a result of the issuance of the securities, the Company has 56,894,108 common shares issued and outstanding.
The Company will issue shortly, a Corporate update on its operations in Nicaragua which are well under way.
Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of the Company and carry known and unknown risks, uncertainties and other factors that may appreciably affect their results, economic performance or accomplishments when considered in light of the content or implications of statements made by the Company. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. The Company does not intend and undertakes no obligation to update these forward-looking statements.
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.