Correction: Glen Eagle Resources Announces Private Placement and Grant of Options

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

(TheNewswire)



 

Montreal, Quebec, CANADA – TheNewswire - August 31, 2021 – Glen Eagle Resources Inc. (the “Corporation”) (TSXV:GER) (OTC:GERFF) is pleased to announce that it will raise up to $1,000,000 by way of a non-brokered private placement of units (the “Units”) of the Corporation at a price of $0.07 per Unit (the “Offering”).

 

Each Unit of the Offering is comprised of one common share of the Corporation (each a “Share”) and one share purchase warrant (each a “Warrant”).  Each Warrant will entitle the holder to acquire one additional Share in the capital of the Corporation at a price of $0.08 per Warrant for a period of 24 months from the date the Units are issued.

 

The Corporation intends to use the net proceeds of the Offering for the plant operations, for working capital and general corporate purposes. The closing of the Private Placement is subject to certain conditions including, without limitation, approval of the TSX Venture Exchange.

  

The offered securities will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities of the Corporation in the United States.

 

Grant of Options

 

The Corporation is also pleased to announce that it has granted a total of 4,535,000 incentive stock options to directors, officers and consultants under the stock option plan (the “Plan”) of the Corporation. The Options, subject to the terms of the Plan and the corresponding option agreement, are exercisable at a price of CAD $0.10 per share for a period of up to 5 years expiring on August 30, 2026.

ABOUT GLEN EAGLE RESOURCES INC.

Glen Eagle Resources Inc. is a small producer and an exploration company of precious metals in Canada and the central America area.

 

For more information, please contact:

 

Jean Labrecque
President
1-514-808-9807

 

Neither 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.

Copyright (c) 2021 TheNewswire - All rights reserved.