Glen Eagle Resources Inc.

Glen Eagle Resources Inc.

July 07, 2009 17:12 ET

Glen Eagle Closes Amended Private Placement

MONTREAL, QUEBEC--(Marketwire - July 7, 2009) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") announces it has closed its previously announced non-brokered private placement dated June 30, 2009. Financing terms have been modified due to market conditions and also to allow for TSX-V permitted Discounted Market Pricing on private placement issues based on today's closing price. As previously disclosed, each unit ("Units") consists of 1 common share and 1 common share purchase warrant ("warrants"). 1,363,636 Units have been issued at a price $0.11 per unit for gross proceeds of $150,000. The warrants shall have an expiration date of 3 years from closing of the Offering and be exercisable at $0.15 per share. Glen Eagle has paid a finder's fee of $8,000 to an arm's length party. The proceeds shall be used for working capital. The securities issued pursuant to the Offering will be subject to a 4 month hold period.

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

Contact Information

  • Glen Eagle Resources Inc.
    Head Office
    Jean Labrecque
    President & CEO