Arrowstar Resources Ltd
Gulfside Minerals LTD.: Gulfside Closes Sale of Interest in ECM LLC/ Agreement
Gulfside Minerals LTD. / Key word(s): Corporate Action 13.10.2011 / 08:13 --------------------------------------------------------------------- Vancouver, B.C. --October 11, 2011 - Robert L. Card, President of Gulfside Minerals Ltd. ('Gulfside' or the 'Company'), is pleased to report that the Company has received the final payment of US$ 1,500,000 on the sale of its 5% interest in ECM LLC, the Mongolia company holding the exploration license to the Erdenetsogt brown coal project. The Company negotiated the sale of its interest by Agreement dated October 28, 2010 and received a down payment of UD$500,000 at that time. The final payment was due in October 2011 and has been received ahead of time. The funds will be added to general working capital. The Company is awaiting final TSX approval of its acquisition of three iron ore projects located in Alaska, Quebec and Labrador, announced August 22, 2011. The Company has completed the Private Placement of securities announced on August 22, 2011. On Behalf of the Board of Directors, Gulfside Minerals Ltd. 'Robert L. Card' Robert L. Card President Investor Contact: Robert L. Card 604-687-7828 Gulfsideminerals@shaw.ca www.gulfsideminerals.com Gulfside Enters Into Data Purchase Agreement Vancouver, B.C. - October 5, 2011 - Robert L. Card, President of Gulfside Minerals Ltd. ('Gulfside' or the 'Company'), reports that further to the Company's news release of July 12, 2011, the Company has amended the Data Purchase Agreement with Lucky Strike Resources Ltd. ('Lucky'). The Company owns certain exploration data, records, and reports ('Exploration Data') compiled by Norwest Corporation, including, drill logs, analytical results, and assay results prepared by Stewart Labs Mongolia, which relate to the Onjuul (CN) Coal Project in Mongolia. Gulfside and Lucky have agreed to a cash settlement for the Exploration Data rather than encumbering the property with a 2% royalty on Net Production, as originally noted in Gulfside's news release of July 12, 2011. In consideration of the sale of the Exploration Data by Gulfside to Lucky, pursuant to the Agreement, Lucky agreed to pay Gulfside $325,000 (the 'Purchase Price'), as follows: (a) $25,000 to be paid upon the execution of the Agreement; and (b) $300,000 to be paid upon the financing and exercise of Lucky's option to acquire an 80% interest in the Project. On Behalf of the Board of Directors, Gulfside Minerals Ltd. 'Robert L. Card' Robert L. Card President Oct 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 President 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. 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. End of Corporate News --------------------------------------------------------------------- 13.10.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 142164 13.10.2011
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