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
"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.