GERFF - Glen Eagle Resources First Closing of Private Placement
(TheNewswire)
MONTREAL – TheNewswire- March 11, 2021 -- Glen Eagle Resources Inc. (TSXV:GER) (or"the Company") announces a firstclosing of $250,000 at $0.05 cents with no warrants, representinghalf the amount that the Company intends to close.
Most of the proceeds came from a few large shareholdersof the Company including Eric Sprott who has increased his positionfrom 11,118,182 to 13,118,182 shares. The proceeds will be allocatedfor fast turn around ore purchases which are being provided at a dailyrate of 120 tons.
The privateplacement is subject to regulatory approval in accordance withapplicable securities legislation. The securities issued in connectionwith the private placement will be subject to a four-month hold periodfollowing the closing of the Offering. Finder's fees may also beapplicable.
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Jean Labrecque, President
Glen Eagle Resources Inc
2075 Victoria Street
Suite 201
St-Lambert, Québec
J4S- 1H1
514-808-9807
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