Glacier Lake Resources Inc. to Complete Debt Settlement
22.08.2017 | GlobeNewswire
VANCOUVER, Aug. 22, 2017 - Glacier Lake Resources Inc. (TSXV:GLI) (“Glacier” or the “Company”) is pleased to announce that further to its news release of August 9, 2017, the Company will now proceed with the issuance of the first tranche of common shares owing in connection with its online advertising, marketing and branding services agreement with AGORACOM (the “Services Agreement”).Pursuant to the terms of the Services Agreement, a total of 90,000 shares will be issued at a deemed price of $0.105 per share. In accordance with the terms of the Services Agreement, the Company is required to complete additional share issuances to AGORACOM as services are provided in the future.
The Company has also reached an agreement with an arm’s length creditor to settle outstanding indebtedness totaling $8,250.00 (the “Indebtedness”). The Indebtedness will be satisfied by the issuance of 78,572 shares at a deemed price of $0.105 per share.
Completion of the issuance of shares to AGORACOM and in settlement of the Indebtedness remains subject to the approval of the TSX Venture Exchange. All shares issued in connection with both transactions will be subject to a four-month-and-one-day hold period.
On behalf of the Board of Directors GLACIER LAKE RESOURCES INC.
Saf Dhillon
President, Chief Executive Officer, Director
Please visit our Website at: www.glacierlake.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
Saf Dhillon, President/CEO
Glacier Lake Resources Inc.
Tel: 866-687-7059
Dir: 604-688-2922
saf@glacierlake.ca