|By Marketwired .||
|September 17, 2013 09:43 AM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 09/17/13 -- Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce that a Director of the Company has made a substantial investment to purchase and co-own the Pilot Plant that will process the tailings and advance Glen Eagle's Project in La Libertad/Santo Domingo.
The Pilot Plant will be leased to Sandgold, a subsidiary corporation owned by Glen Eagle Resources in Nicaragua. The terms of the Leasing Agreement are currently being drafted and will be made public when available.
The fact that the Pilot Plant has been purchased will help reduce Glen Eagle's risk, facilitate financing and avoid dilution of its shares.
The equipment is scheduled to arrive on the concession by late October and planning is in progress to have the infrastructure ready on time. The Company has already explored various options other than the equity market to finance the Project's final stages. Relevant information on the matter will be given to our shareholders on due time.
"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."
Jean Labrecque, President
Glen Eagle Resources Inc.
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