Gleichen Resources Ltd.

TSX VENTURE: GRL

Gleichen Resources Ltd.

Feb 04, 2010 16:49 ET

TORONTO, ONTARIO–(Marketwire – Feb. 4, 2010) –

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Gleichen Resources Ltd. (TSX VENTURE:GRL) (the “Company” or “Gleichen”) announced today that it has entered into an agreement with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. (the “Lead Underwriter”) and co-led by BMO Nesbitt Burns Inc. and GMP Securities L.P. and including Dundee Securities Corporation and Jones Gable & Company Limited (collectively, the “Underwriters”). The Underwriters have agreed to purchase, on a bought deal basis, 50,000,000 common shares (the “Common Shares”) of the Company, at a price of CDN$1.00 per Common Share (the “Offering Price”), for aggregate gross proceeds to Gleichen of CDN$50,000,000 (the “Offering”).

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For more information, please contact

GLEICHEN RESOURCES LTD.
Fred Stanford
President and CEO
(647) 260-1502
fred.stanford@gleichenresourcesltd.com
or
GLEICHEN RESOURCES LTD.
Gabriela M. Sanchez
Vice President Investor Relations
(647) 260-1503
gabriela.sanchez@gleichenresourcesltd.com

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Gleichen Announces CDN$50,000,000 Bought Deal Financing

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