Glen Eagle Resources Inc.

Glen Eagle Resources Inc.

June 05, 2009 09:42 ET

Glen Eagle Resources: Kinbauri Terminates Subscription Agreement

MONTREAL, QUEBEC--(Marketwire - June 5, 2009) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle Resources" or the "Company") announces that it has been advised by Kinbauri that it has terminated the Subscription Agreement dated May 8, 2009.

Glen Eagle believes that Kinbauri's termination is a breach of the Subscription Agreement and Glen Eagle is considering its options in consequence thereof.

Glen Eagle is disappointed that Kinbauri has terminated the Agreement as Glen Eagle remains fully committed to the transaction and to the funding of same in accordance with its contractual obligations.

Forward-Looking Statements

This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the release.

Contact Information

  • Glen Eagle Resources Inc.
    Jean Labrecque
    514-938-0644 (FAX)
    Web site: Currently being revamped.