Glen Eagle Resources Inc.

Glen Eagle Resources Inc.

June 29, 2017 08:45 ET

Glen Eagle to Consider the Issuance of an Extraordinary Dividend to Its Shareholders

MONTREAL, QUEBEC--(Marketwired - June 29, 2017) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce that strong shareholder support was received at the Company's Annual General Meeting held last week in Montreal.

As part of the agenda, the shareholders supported the motion to have an extraordinary dividend being disbursed before the end of 2017. The Company's Board of Directors will discuss the extraordinary dividend when it meets in early August as a follow up to the AGM meeting and will assess the timing, amount of the dividend and the record date. The decision will be based on Glen Eagle's proforma financial projections for the remainder of the year and the confidence that production and cash flow should increase substantially as the plant expansion and process optimization nears completion.

Glen Eagle remains confident that it will generate sufficient cash flow in the coming months that would warrant the issuance of a competitive extraordinary dividend to thank its shareholders who were instrumental in the production run-up of Cobra Oro processing plant.

This News Release is issued in compliance with National Instrument 51-101 Continuous and Timely Disclosure of material information with the purpose to place all participants in the market on an equal footing.

"Neither 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."

Contact Information

  • Glen Eagle Resources Inc.
    Jean Labrecque