Libra Advisors, LLC Acquires Common Shares of Gleichen Resources Ltd. for
Investment Purposes

TORONTO, Feb. 17 /CNW/ - Libra Advisors, LLC ("Libra"), announced today that it has acquired 5,000,000 common shares at a price of $1.00 per common share and 20,000 common shares at a price $0.97 per common share of Gleichen Resources Ltd. ("Gleichen").

As a result of these acquisitions and together with the previously held common shares, Libra now holds 25,220,000 common shares, representing approximately 8.8% of the outstanding common shares of Gleichen, and 5,000,000 warrants of Gleichen that, if exercised, would result in Libra holding approximately 10.3% of the total outstanding common shares of Gleichen.

Libra acquired these common shares for investment purposes and may, from time to time, acquire additional securities of Gleichen or dispose of such securities as it may deem appropriate.

Libra is the investment advisor to Libra Fund, LP and Libra Offshore Master Fund, LP with principal offices at 909 Third Avenue, 29th Floor, New York, NY 10022.

SOURCE LIBRA ADVISORS, LLC

For further information: For further information: Mr. Ranjan Tandon, Managing Member at (212) 350-5125

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LIBRA ADVISORS, LLC

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