(TheNewswire)
MONTREAL – TheNewswire - June 4th , 2021 -- Glen EagleResources Inc. (TSXV:GER) (OTC:GERFF) (or "theCompany") is pleased to announce theclosing of a sold out non-brokered private placement for $600,000representing the issuance of 12,000,000 units priced at $0.05 cents,comprised of one common share and one common share purchase warrant atan exercise price of $0.08 for a period of 24 months.
Sixty-six per cent (66%) of the placement was sold totwo Canadian investors with international exposure to the miningindustry across several continents with sales exceeding $100M throughtheir private corporations. Both participants are committed to bringtheir support and know-how to help the Company succeed with itsoperations in Honduras.
Finder's fees of $1,500 cash was paid for theplacement.
Proceeds will be used for exploration work, spare partspurchases for Cobra Oro gold processing plant in Honduras and workingcapital.
The private placement is subject to regulatory approvalin accordance with applicable securities legislation. The securitiesissued in connection with the private placements will be subject to afour-month hold period following the closing of the Placements.
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, #201
St-Lambert (Quebec)
J4S 1H1
Tel : 514-808-9807
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