GMG: TSX.V
VANCOUVER, April 14 /PRNewswire/ - Robert L. Card, President Gulfside Minerals Ltd.
("Gulfside" or the "Company") (TSXV: GMG) is pleased to announce
that it has closed its private placement announced on February 28, 2011 and March 28, 2011 issuing 3,100,000 flow through
units and 5,140,000 hard dollar units a price of $0.10 per unit, for gross proceeds of
$824,000.
Each flow through unit consisted of one common share and one
half share purchase warrant exercisable at a price of $0.15 per share for a period of one year from
closing. Each hard dollar unit consisted of one common share and
one whole share purchase warrant, carrying the same terms as the
flow through warrants.
All securities are subject to a hold period expiring
August 13, 2011, in accordance with
applicable securities laws. The Company paid aggregate finder's
fees of $57,680.
The proceeds of the flow-through financing will be used to
conduct exploration on its recently-acquired Northern Treasure gold
property, located 120 km south of Atlin,
BC. The claims are on geological trend 12 km from the
Inlaw/Trapper Lake group (a joint venture between Ocean Park
Ventures Ltd. and Constantine Metal Resources Ltd.) and 70 km from
the Golden Bear mine and mine access road which was developed by
Chevron Minerals of Canada. The
proceeds of the non-flow portion of the financing will be used for
general working capital and in its coal interests in Mongolia.
On Behalf of the Board of Directors,
Gulfside Minerals Ltd.
"Robert L. Card"
Robert L. Card
President
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
SOURCE Gulfside Minerals Ltd.