Windermere Capital (Canada) announces a change in its interest in Glen Eagle Resources Inc.

MONTREAL, March 10, 2017 /CNW Telbec/ - Windermere Capital (Canada) Inc. ("Windermere"), a Montreal-based investment firm, announces a change in its interest in Glen Eagle Resources Inc. ("GER"; TSX-V: GER) since it last disclosed holdings of 3,950,000 common shares ("Common Shares") of GER and 3,660,000 warrants to acquire Common Shares ("Warrants"). 

Since the last report, all Warrants held by Windermere have lapsed or were exercised. Moreover, Windermere completed purchases and sales of Common Shares through the facilities of the TSX Venture Exchange, with the last trade being a sale of 10,000 Common Shares on February 28, 2017, and also acquired Common Shares in the context of private placements carried by GER resulting in its securityholdings in GER changing to an aggregate of 5,429,000 Common Shares, representing a net increase of 1,929,000 Common Shares and a net decrease of 3,660,000 Warrants. None of such trades resulted, individually or in the aggregate, in Windermere acquiring or disposing beneficial ownership of, or acquiring or ceasing to have control or direction over, Common Shares in an amount equal to 2% or more of the outstanding Common Shares. Such changes in the securityholdings of Windermere in GER, combined with an increase in the aggregate number of issued and outstanding Common Shares, resulted in a net decrease of Windermere's securityholdings' percentage of 11.75% of the Common Shares issued and outstanding on a fully diluted basis (from 18.72% on June 7, 2011).

Windermere's holdings in GER amount to a total of 5,429,000 Common Shares representing in the aggregate approximately 6.97% of the outstanding Common Shares. The sale of 10,000 Common Shares completed on February 28, 2017, which was made at a price of $0.18 per Common Share and $1,800 in total, was the first transaction changing the securityholding percentage of Windermere in GER since Windermere's securityholdings in GER constituted less than 10% of the issued and outstanding Common Shares as a result of the increase in the aggregate number of issued and outstanding Common Shares.

Common Shares and Warrants included in Windermere's holdings for the purpose of this early warning report are owned by Breakaway Strategic Resource Segregated Portfolio ("Breakaway Portfolio"), Navigator Segregated Portfolio ("Navigator Portfolio", and together with Breakaway Portfolio, the "Segregated Portfolios") and by Windermere. The Segregated Portfolios are each segregated portfolios of Windermere Capital Fund SPC, a Cayman Islands segregated portfolio company.  Windermere is engaged by Windermere Capital (Cayman) Inc. ("Windermere Cayman"), the investment manager of the Segregated Portfolios, as the portfolio advisor to the Segregated Portfolios and advises Windermere Cayman on all of the investment decisions with respect to each of the Segregated Portfolios and the securities held by the Segregated Portfolios. As at March 10, 2017: (i) Breakaway Portfolio owned 2,651,250 Common Shares; (ii) Navigator Portfolio owned 2,617,750 Common Shares; and (iii) Windermere owned 160,000 Common Shares, representing approximately 3.40%, 3.36% and 0.21% (6.97% in the aggregate), respectively, held by each of Breakaway Portfolio, Navigator Portfolio and Windermere, of the issued and outstanding Common Shares.

Windermere advises in respect of, acquires and disposes of control over, and acquires or disposes of direct ownership of, Common Shares for investment purposes only. These investments will be reviewed by the applicable party on a continuing basis and such holdings may be increased or decreased in the future.

The filing of this report is not an admission that an entity named in the report owns or controls any described securities or is a joint actor with another named entity.

A copy of the early warning report related to this news release will be filed forthwith on SEDAR (www.sedar.com). For a copy of such report or for further information, please contact:

Chris Wright
President
Windermere Capital (Canada) Inc.
1001 boul. de Maisonneuve Ouest, #205
Montreal, Quebec H3A 3C8
Tel: 514-908-4200

SOURCE Windermere Capital