Through its subsidiary Cobra Gold, Glen Eagle Resources has acquired a property of 15,000 square meters in Choluteca, to build a processing plant.
From a statement issued by Glen Eagle Resources:
MONTREAL, QUEBEC–(Marketwired – Oct. 6, 2016) – Glen Eagle Resources Inc. (TSX VENTURE:GER) (“Glen Eagle” or the “Company”) is pleased to announce that Cobra Oro, a wholly owned subsidiary of Glen Eagle, has purchased 15 000 square meters of land in Choluteka, Honduras. Based on the transaction, Cobra Oro acquires its own free trade zone which will reinforce its past exemption to pay a minimum 25% flat tax on profits, 25% duty tax on imports, reduce from 6% to 3% the sales tax on export and cancelled $8 000 in monthly rent as a tenant. The acquisition will further secure Cobra Oro’s ongoing expansion project supported at its core by an asset strategically located in one of the fastest economic growth area of all Honduras due in part to its low criminality rate among other factors.
Constructora Celaque is a leader when it comes to construction of civil projects and mining in Honduras with more than 15 years of experience.
Operates in Honduras and Honduras
Phone: (504) 2239 6794 - (504) 9905 7845
Armstrong Equipment, Inc. is an American based company that specializes in the distribution to Latin America of equipment and parts used in the mining sector, rock crushing and asphalt paving.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (305) 592 8361