Mr. Bart Jaworski reports
GROUP ELEVEN CLOSES NON-BROKERED PRIVATE PLACEMENT
Group Eleven Resources Corp. has closed its non-brokered private placement, previously announced on June 12, 2020, through the issuance of one million units at a price of five cents per unit for gross proceeds of $50,000. All currency is denominated in Canadian dollars.
Each unit will consist of one common share and one-half non-transferable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the company at 10 cents per share for 36 months from the date of issue.
The proceeds from the placement will be used for exploration, as well as for general and administrative purposes. The placement is subject to regulatory approval and all securities to be issued pursuant to the placement are subject to a hold period under applicable Canadian securities legislation that expires four months and one day after the closing date of the placement.
About Group Eleven Resources
Group Eleven is a mineral exploration company focused on advanced-stage zinc exploration in Ireland.
We seek Safe Harbor.
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