Glen Eagle Sells Sandgold's Interest in Nicaragua for $100 000 and 3% NSR
MONTREAL, QUEBEC--(Marketwired - Jan 3, 2017) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce that Sandgold SA, a wholly owned subsidiary of Glen Eagle was sold to a private party at arm's length for the sum of CDN $100 000 dollars and 3% NSR on future development of Sandgold's initial project in La Libertad, Nicaragua.
The Buyer has made a deposit of $7000 to secure a due diligence process on Sandgold. Upon a successful completion, Glen Eagle will receive $40 000 dollars at signature, $40 000 dollars in six months and the remaining balance after year 1. No commission will be charged at closing.
The sale will allow Glen Eagle to focus entirely on Cobra Oro's production project in Honduras as the company's operations have grown considerably over the past year while continuing to have a presence in Nicaragua through its NSR participation.
Gilles Laverdière, P.Geo and a Qualified Person under NI 43-101 has read and approved the technical content of this news release.
For the latest information about Glen Eagle, please visit www.gleneagleresources.com
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