Group Eleven Closes Non-Brokered Private Placement
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Group Eleven Closes Non-Brokered Private Placement
Vancouver, Canada, June 30, 2020 – Group Eleven Resources Corp. (TSX.V: ZNG; OTC: GRLVF; FRA: 3GE)
(“Group Eleven” or the “Company”) is pleased to announce the closing of its non-brokered private placement
(the “Placement”), previously announced on June 12, 2020, through the issuance of 1,000,000 units at a price
of $0.05 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 $0.10 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 Resources Corp. (TSX.V: ZNG; OTC: GRLVF and FRA: 3GE) is a mineral exploration company
focused on advanced stage zinc exploration in the Republic of Ireland.
Additional information about the Company is available at www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“Bart Jaworski”
Bart Jaworski, P.Geo.
Chief Executive Officer
For more information, please contact:
Shaun Heinrichs
Chief Financial Officer
E: [email protected] | T: +1 604 630 8839
Cautionary Note Regarding Forward-Looking Information
This press release contains forward -looking statements within the meaning of applicable securities
legislation. Such statements include, without limitation, statements regarding t he anticipated use of
proceeds from the Placement, future results of operations, performance and achievements of the
Company, including the timing, content, cost and results of proposed work programs, the discovery and
delineation of mineral deposits/resources/ reserves and geological interpretations. Alth ough the
Company believes that such statements are reasonable, it can give no assurance that such expectations
will prove to be correct. Forward -looking statements are typically identified by words such as: believe,
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expect, anticipate, intend, estimate, po stulate and similar expressions, or are those, which, by their
nature, refer to future events. The Company cautions investors that any forward -looking statements by
the Company are not guarantees of future results or performance, and that actual results ma y differ
materially from those in forward looking statements as a result of various factors, including, but not
limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All
of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to
review these materials, including the technical reports filed with respect to the Company's mineral
properties.