Share for debt transaction

2020-02-12 / @nasdaq

MONTREAL, Feb. 12, 2020 (GLOBE NEWSWIRE) -- Glen Eagle Resources Inc. (TSX VENTURE: GER) (“Glen Eagle” or the “Company”) is pleased to report that the President Jean Labrecque is purchasing a total of 500,000 shares from the treasury at yesterday price, $0.08 per share, for a total consideration of $40,000. This amount will be reduced from the debt the company has towards Mr. Labrecque. This debt was accumulated by unpaid salary to Mr. Labrecque in the last four months. Consequently, this represents a share for services rendered transaction. The transaction is subject to the approval of TSX Venture and non-interested shareholder’s at the annual meeting.

Jean Labrecque, President
Glen Eagle Resources Inc
Complexe du Canal Lachine, Suite 308
4710 St-Antoine Street
Montreal (Quebec)
Tel : 514-808-9807

“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.” Values in the news release are quoted in Canadian dollars.