GERFF - Correction: Glen Eagle Resources Announces Private Placement and Grant of Options
(TheNewswire)
Montreal, Quebec, CANADA – TheNewswire - August 31, 2021 – Glen Eagle ResourcesInc. (the “ Corporation ”)(TSXV:GER) (OTC:GERFF) ispleased to announce that it will raise up to $1,000,000 by way of anon-brokered private placement of units (the “ Units ”) of theCorporation at a price of $0.07 per Unit (the “ Offering ”).
Each Unit of the Offering is comprised of one commonshare of the Corporation (each a “ Share ”) and oneshare purchase warrant (each a “ Warrant ”). EachWarrant will entitle the holder to acquire one additional Share in thecapital of the Corporation at a price of $0.08 per Warrant for aperiod of 24 months from the date the Units are issued.
The Corporation intends to use the net proceeds of theOffering for the plant operations, for working capital and generalcorporate purposes. The closing of the Private Placement is subject tocertain conditions including, without limitation, approval of the TSXVenture Exchange.
The offered securities will not be registered under theUnited States Securities Act of 1933, as amended (the" U.S. SecuritiesAct ") and may not be offered or sold withinthe United States or to or for the account or benefit of U.S. persons,except in certain transactions exempt from the registrationrequirements of the U.S. Securities Act. This press release does notconstitute 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 hasgranted a total of 4,535,000 incentive stockoptions to directors, officers and consultants under the stock optionplan (the “ Plan ”) of the Corporation. The Options, subject to the terms ofthe Plan and the corresponding option agreement, are exercisable at aprice of CAD $0.10 per share for a period of up to 5 years expiring onAugust 30, 2026.
ABOUT GLEN EAGLE RESOURCESINC.
Glen Eagle Resources Inc. is a small producer and an exploration company of precious metalsin Canada and the central America area.
For more information, pleasecontact:
Jean Labrecque
President
1-514-808-9807
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
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