Gulfside Minerals Arranges $10,000,000 Private Placement
March 31 2008 - 10:22AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: GMG), is pleased to
announce that a non-brokered private placement of 7,518,797 shares
at a price of $1.33 per share to raise gross proceeds of
$10,000,000 has been arranged. The proceeds of the financing will
be used for the acquisition and exploration of its coal property in
Mongolia, as previously announced on March 14, 2008, and for
general working capital. The closing of the private placement is
subject to the approval of its coal property acquisition by the TSX
Venture Exchange. The shares issued will be subject to a four month
hold period from date of closing of the private placement.
The private placement has been arranged with a group of European
Investors.
A finder's fee is payable in connection with this placement
The Company also reports it will proceed to close the private
placement announced on November 20, 2007 for proceeds of
$7,000,000. The proceeds of this financing will be used for the
exploration and development of its coal property, exploration of
its mineral properties in Mongolia and general working capital.
The offering and finder's fee are subject to completion and
execution of appropriate documentation and acceptance for filing by
the TSX Venture Exchange.
On behalf of the board of directors Gulfside Minerals Ltd.
Robert L. Card, President
Investor Contact:
Forward-Looking Statements: This document includes
forward-looking statements. Forward-looking statements include, but
are not limited to, statements concerning GMG's planned exploration
program in Mongolia and other statements that are not historical
facts. When used in this document, the words such as "could",
"plan", "estimate", "expect", "intend", "may", "potential",
"should", and similar expressions are forward-looking statements.
Although GMG believes that its expectations reflected in these
forward looking statements are reasonable, such statements involve
risks and uncertainties and no assurance can be given that actual
results will be consistent with these forward-looking statements.
Important factors that could cause actual results to differ from
these forward-looking statements are disclosed under the heading
"Risk Factors" and elsewhere in the corporation's periodic filings
with Canadian securities regulators.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy or adequacy of this news
release.
Contacts: Gulfside Minerals Ltd. Del Thachuk (604) 538-5995
Website: www.gulfsideminerals.com or www.gulfsideminerals.de
Graphene Manufacturing (TSXV:GMG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Graphene Manufacturing (TSXV:GMG)
Historical Stock Chart
From Jul 2023 to Jul 2024