Vancouver, British Columbia — September 4, 2026 — Leads & Copy — Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) has announced a settlement for C$32,250 in outstanding director fees owed to former director Mr. Alessandro Bitelli. The settlement will be paid through the issuance of 38,393 common shares of the Company at a price of $0.84 per share, a transaction referred to as the “Debt Settlement.” These fees were accrued in 2025 and 2026 prior to Mr. Bitelli’s retirement from the board at the last annual general meeting.
The Company’s board of directors and management have determined that this Debt Settlement is in the best interest of Group Eleven Resources, as it will enable the preservation of cash resources for current and planned operational activities. The completion of the Debt Settlement is contingent upon approval from the TSX Venture Exchange. Shares issued as part of this settlement will be subject to a four-month hold period, commencing from their issuance date, as per Canadian securities laws.
Group Eleven Resources Corp. is engaged in drilling its 100%-owned Ballywire discovery, which features zinc, lead, silver, and copper, situated in the Republic of Ireland. The Ballywire discovery is located 20 kilometers from the Company’s 78.62%-owned Stonepark property. This property is adjacent to Glencore’s Pallas Green project. The Company’s principal shareholders include Michael Gentile, holding a 13.6% interest, and Glencore Canada Corp., with a 12.8% stake.
Source: Group Eleven Resources Corp.
