Gulf Shores Acquires Southeast Saskatchewan Acreage
12 August 2011 - 6:47PM
Marketwired
Gulf Shores Resources Ltd. (the "Company") (TSX VENTURE:
GUL)(FRANKFURT: GFU) announces that further to its news release
dated April 4, 2011 announcing a non-brokered private placement, it
will be filing documentation with the TSX Venture Exchange
("Exchange") for acceptance today seeking Exchange approval to a
first tranche closing of $380,500 through the issuance of an
aggregate 2,660,000 flow-through units ("FT Units") and 4,950,000
non-flow-through units ("NFT Units") at a price of $0.05 per FT
Unit and NFT Unit. Each FT Unit is comprised of one common share
and one-half of one flow-through common share purchase warrant ("FT
Warrant"); each whole FT Warrant will entitle the holder to
purchase one flow-through common share at a price of $0.10 per
share for a period of two years from the date of issuance. Each NFT
Unit is comprised of one common share and one common share purchase
warrant ("NFT Warrant"); each NFT Warrant will entitle the holder
to purchase one common share at a price of $0.10 per share for a
period of two years from the date of issuance. 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
Warrants and NFT Warrants to not less than 30 days following the
date of such notice.
The private placement proceeds will be used for the drilling of
three separate seismically defined Bakken structures in South East
Saskatchewan, and for general working capital purposes.
ON BEHALF OF THE BOARD
Michael Turko, President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: Gulf Shores Resources Ltd. Mr. Gerald Otterman (604)
683-3309 or Toll Free: (866) 292-2601 (604) 844-2834 (FAX)
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