Re: News Release - Monday, October 03, 2011
Gulfside Minerals Closes Private Placement
Vancouver, B.C. --October 3, 2011 - 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
Investor Contact Robert L. Card
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.
Copyright (c) 2011 GULFSIDE MINERALS LTD. (GMG) All rights reserved.
For more information visit our website athttp://www.gulfsideminerals.com/