Gulfside Closes Private PlacementAug 15, 2007 5:50:00 PM
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 08/15/07 -- Robert L Card,President of Gulfside Minerals Ltd. (the ´Company´) (TSX VENTURE: GMG)announces that the private placement, originally reported on June 26, 2007,has been approved by the TSX Venture Exchange and has closed.
The Company is also pleased to report that investors associated with Mr.Bernard Tubeileh (member of Company´s Advisory Board), have taken down1,640,000 units of the private placement.
A total of 2,500,000 units at a price of $ 1.00 per unit were soldresulting in gross proceeds to the Company of $ 2,500,000. Each unitconsists of one common share and one transferable share purchase warrantentitling the holder to purchase an additional common share at a price of $1.04 for a period of one year from closing of the private placement.
Finder´s fees totalling $ 189,000 will be paid in connection with thefinancing.
All of the securities will be subject to a four-month hold period expiringDecember 15, 2007 in accordance with applicable securities laws.
Exploration activities in Mongolia are proceeding as planned on both thecoal and the mineral projects and the Company will release results as soonas they are available.
On Behalf of the Board of Directors of Gulfside Minerals Ltd.
Robert L. Card, President
The TSX Venture Exchange has not reviewed and does not acceptresponsibility for the accuracy or adequacy of this news release.
Contacts:Gulfside Minerals Ltd.Robert L. CardPresident(604) 687-7828(604) 687-7848 (FAX)Website:
www.gulfsideminerals.comDGAP 16.08.2007 --------------------------------------------------
Autor: EquityStory AG
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