Glen Eagle Resources First Closing of Private Placement
MONTREAL, March 11, 2021 - Glen Eagle Resources Inc. (TSXV:GER) (or "the Company") announces a first closing of $250,000 at $0.05 cents with no warrants, representing half the amount that the Company intends to close. Most of the proceeds came from a few large shareholders of the Company including Eric Sprott who has increased his position from 11,118,182 to 13,118,182 shares. The proceeds will be allocated for fast turn around ore purchases which are being provided at a daily rate of 120 tons.
The private placement is subject to regulatory approval in accordance with applicable securities legislation. The securities issued in connection with the private placement will be subject to a four-month hold period following the closing of the Offering. Finder's fees may also be applicable.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Jean Labrecque, President
Glen Eagle Resources Inc.
2075 Victoria Street, # 201
St-Lambert (Quebec), J4S 1H1
Tel: 514-808-9807