TSXV: GMG
VANCOUVER, Oct. 3, 2011 /PRNewswire/ - Robert L. Card, President of Gulfside Minerals
Ltd. ("Gulfside" or the "Company"), is pleased to report that
the Company has closed its private placement announced in
Stockwatch on August 22,
2011. The Company has issued 2.2 million
flow-through units and 9.8 million Non-flow-thru units at a price
of 5 cents per unit, for gross
proceeds of $600,000.
Each unit consists of one common share and one share purchase
warrant exercisable at a price of 15
cents per share for a period of two years from
closing. All securities are subject to a hold period expiring
four months and one day from closing in accordance with applicable
securities Regulations. The company paid finders' fees of
$42,650 on a portion of
the Placement.
The proceeds of the flow-through financing will be used to
conduct exploration on mineral properties in British Columbia and Canada. The proceeds of the non-flow-through
portion of the financing will be used for general working
capital.
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."
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.
SOURCE Gulfside Minerals Ltd.