well, there you have it AClj....the financing you were talking about. Call me a Polyanna but its not that bad a deal to get us to production and total outstanding shares still under 50 mill.......what do you think Death?
Glen Eagle Resources Inc. Closes a Private Placement of $600,000
MONTREAL, QUEBEC--(Marketwired - Dec. 23, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Glen Eagle Resources Inc. (TSX VENTURE:GER) (the "Company") is pleased to announce that it has held a closing of a non brokered private placement. The Company has issued an aggregate of 2,000,000 "flow-through" shares at a price of $0.20 per share, and an aggregate of 1,111,111 common shares at a price of $0.18 per share, for total gross proceeds of $600,000 (the "Offering").
No warrants or broker warrants were issued. In consideration for their services, Secutor Capital Management Corp. received a finder's fee equal to 7% of the gross proceeds of the Offering.
All securities issued pursuant to the Offering are subject to a hold period ending on April 24, 2014.
As a result of the issuance of the securities, the Company has 49,735,822 common shares issued and outstanding.
The Company has done its best effort under difficult circumstances in the market place to reduce to a minimum shareholder's dilution while providing basic funding for exploration to keep its Quebec properties in good standing.
In addition, the Company intends to proceed with additional financings in early 2014, other than through the issuance of shares.