Group Eleven Enters Into a Non-Brokered Private Placement
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Group Eleven Enters Into a Non-Brokered Private Placement
Vancouver, Canada, June 12th, 2020 – Group Eleven Resources Corp. (TSX.V: ZNG; OTC: GRLVF; FRA: 3GE)
(“Group Eleven” or the “Company”) is pleased to announce a non-brokered private placement (the
“financing”) totalling 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-transferrable 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.
Use of proceeds will be for exploration, as well as, general and administrative purposes. The financing is
subject to regulatory approval and is expected to close immediately after the close of the second tranche
of the transaction with Glencore Canada announced on May 15, 2020. All securities to be issued pursuant
to the financing are subject to a hold period under applicable Canadian securities legislation that expires
four months and one day after the closing date of the Offering.
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 the 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. Although 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
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typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate 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 may differ materially from those in forward looking statements as a result o f
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 t hese materials, including the technical reports filed
with respect to the Company's mineral properties.