Glen Eagle Resources Inc - Closes Private Placement

MONTREAL, Dec. 15, 2014 - Glen Eagle Resources Inc. (TSX VENTURE:GER) (the "Company") is pleased to announce the closing of a non-brokered private placement at a price of $0.11 cents per unit (the "Unit"), each Unit being comprised of one (1) common share and one half (1/2) common share purchase warrant at an exercise price of $0.15 per warrant valid for a period of 24 months following the Closing Date. The total proceeds ($330,000) of the "Offering" will be allocated to working capital and further to the private placement 3,000,000 common shares were issued by the Company.

A finder's fee equal to 8% of the gross proceeds was paid to intermediaries in consideration for their services.

All securities issued pursuant to the Offering are subject to a hold period ending on April 16, 2015. As a result of the issuance of the securities, the Company has 59,894,108 common shares issued and outstanding.


Forward-looking statements

Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of the Company and carry known and unknown risks, uncertainties and other factors that may appreciably affect their results, economic performance or accomplishments when considered in light of the content or implications of statements made by the Company. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. The Company does not intend and undertakes no obligation to update these forward-looking statements
Neither the 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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES



CONTACT INFORMATION

Glen Eagle Resources Inc.
Jean Labrecque, CEO
450-229-4488
www.gleneagleresources.com