Gulf Shores Resources Ltd. Non-Brokered Private Placement
04 April 2011 - 5:23PM
Marketwired
Gulf Shores Resources Ltd. (TSX VENTURE: GUL) (the "Company") is
arranging a non-brokered private placement of $800,000 to be raised
through the issuance of 13,500,000 flow-through units ("FT Units")
at a price of $0.05 per FT Unit and 2,500,000 non-flow-through
units ("NFT Units") at a price of $0.05 per NFT Unit. Each FT Unit
will be comprised of one flow-through common share and one-half of
one flow-through common share purchase warrant ("FT Warrant"). One
whole FT Warrant will entitle the holder to purchase one
flow-through common share for a period of two years at a price of
$0.10 per share. Each NFT Unit will be comprised of one common
share and one share purchase warrant ("NFT Warrant"). One whole NFT
Warrant will entitle the holder to purchase one non-flow-through
common share for a period of two years at a price of $0.10 per
share.
The FT Warrants and NFT Warrants are subject to an acceleration
clause such that in the event the closing price of the Company's
common shares on the Exchange is equal to greater than $0.15 per
share for 20 consecutive trading days at any time following four
months after the date of closing, the Company may, by notice to the
warrant holders, reduce the remaining exercise price period of the
FT and NFT Warrants to not less than 30 days following the date of
such notice.
The proceeds of the financing will be used for the drilling of
Bakken oil wells on the Company's recently acquired Petroleum &
Natural Gas rights in the Wapella area of South East Saskatchewan
and for general working capital purposes.
The private placement is subject to TSX Venture Exchange
approval.
ON BEHALF OF THE BOARD
Michael Turko, CEO, President and Director
Neither the 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 news release.
Contacts: Gulf Shores Resources Ltd. Mr. Gerald Otterman (604)
683-3309 info@gulfshoresresources.com
www.gulfshoresresources.com
Gulf Shores Resources Ltd. (TSXV:GUL)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Gulf Shores Resources Ltd. (TSXV:GUL)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
Echtzeit-Nachrichten über (TSX Venture Börse): 0 Nachrichtenartikel
Weitere Gulf Shores Resources Ltd. News-Artikel