Glen Eagle Resources Inc.

Glen Eagle Resources Inc.

March 26, 2015 09:10 ET

Glen Eagle Resources Inc.: Private Placement

MONTREAL, QUEBEC--(Marketwired - March 26, 2015) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce that it has held the closing of a non-brokered private placement at a price of $0.15 cents per Unit, each Unit being comprised of one share and one half (1/2) common share purchase warrant at an exercise price of $0.20 cents per warrant share valid for a period of 24 months following the Closing Date. As a result, 833,000 shares were issued, bringing the total common shares issued and outstanding to 60,727,441. The issued shares will be subject to a hold period ending on July 27, 2015. The total net proceeds of the "Offering" ($125,000) will be allocated to working capital and other corporate needs. No commissions were paid at the Closing.

The Company will announce early next week an update on its operations in Nicaragua and Honduras as previously stated in a News Release dated Februaty 24, 2015.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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