Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Group Eleven Announces Upsize of Private Placement to $2,500,000 from $1,500,000

by admin February 19, 2025
February 19, 2025
Group Eleven Announces Upsize of Private Placement to $2,500,000 from $1,500,000

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) (‘Group Eleven’ or the ‘Company’) is pleased to announce that further to its news release earlier today (February 18, 2025), it is increasing the size of its non-brokered private placement (the ‘Offering’) from up to 7,894,736 units (the ‘Units’) to up to 13,157,894 Units at a price of $0.19 per Unit for gross proceeds of $2,500,000. All currency in this news release is denominated in Canadian dollars.

Each Unit will consist of one common share in the capital of the Company (a ‘Common Share‘) and one-half of one common share purchase warrant (each whole warrant, a ‘Warrant‘). Each Warrant will be exercisable into one Common Share at a price of $0.28 per Warrant for a period of two years from the date of issuance.

The Company intends to use the proceeds for exploration activities in Ireland, including at the Company’s 100%-owned Ballywire (‘Ballywire‘) zinc-lead-silver discovery at the PG West Project and for general working capital purposes.

The Offering is subject to approval from the TSX Venture Exchange and the securities will be subject to a four month and one day hold period pursuant to applicable securities laws.

About Group Eleven Resources

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven announced the Ballywire discovery in September 2022. The Company’s two largest shareholders are Glencore Canada Corp. (17.1% interest) and Michael Gentile (16.5%). Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514

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.

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward‐looking statements,’ are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the completion of the Offering, the anticipated proceeds to be raised under the Offering; the intended use of proceeds raised under the Offering; Mr. Gentile’s participation in the Offering; and the potential payment of finder’s fees in connection with the Offering.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain the required regulatory approvals for the Offering; market uncertainty; the inability of the Company to complete the Offering on the terms disclosed, or at all; the inability of the Company to raise the anticipated proceeds under the Offering; that Mr. Gentile’s intended participation in the Offering will change; and changes in the Company’s business plans impacting the intended use of proceeds raised under the Offering.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the Company will obtain the required regulatory approvals for the Offering; the Company will be able to complete the Offering on the terms disclosed; that Mr. Gentile will participate in the Offering in the amount currently expected; the Company will be able to raise the anticipated proceeds under the Offering; and the Company will use the proceeds of the Offering as currently anticipated. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241286

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
LaFleur Minerals Reminds Shareholders of Rescheduled Annual General and Special Meeting
next post
Musk opens up about dinner party that soured when Trump’s name was invoked: ‘Like methamphetamine and rabies’

Related Posts

Outcomes of a Strategic Review

July 10, 2024

Cespira Appoints Carlos Gonzalez as President and CEO

January 22, 2025

Crypto Market Update: World Liberty Announces US$1.5 Billion...

August 14, 2025

Crypto Market Recap: Coinbase Hit by US$400 Million...

May 17, 2025

Cartier Resources Closes Offering with Paradigm Capital and...

April 24, 2025

Lac Carheil Graphite Project Awarded Grant Funding

March 6, 2025

Placement Shares Issued & Drilling Approval Expected August

July 10, 2025

Providence Gold Mines

February 18, 2025

Heritage Mining Ltd. Announces Amendments to Option Agreement...

October 28, 2024

ITM and Radiopharm Sign Supply Agreement for n.c.a....

May 20, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Trump nominees squeezed between ‘blue slips’ and blue obstruction

      September 1, 2025
    • Trump says he will require voter ID with executive order

      September 1, 2025
    • Former FBI Director Robert Mueller has Parkinson’s disease: report

      September 1, 2025
    • Commencement of Henbury Field Program

      September 1, 2025
    • RCM to Acquire Webbs Consol Silver Project from Lode Res.

      September 1, 2025

    Categories

    • Business (1,092)
    • Investing (2,946)
    • Politics (3,598)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved