DGAP-News: Gulfside Minerals LTD.: Gulfside Closes Sale of Interest in ECM LLC/ Agreement
(firmenpresse) - DGAP-News: Gulfside Minerals LTD. / Key word(s): Corporate Action
Gulfside Minerals LTD.: Gulfside Closes Sale of Interest in ECM LLC/
Agreement
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(at)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
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: EquityStory
" alt="Northern Lion Reconnaissance Drilling Intercepts 12.19 Metres of 2.45 g/t Gold and 1.77% Copper at Anglesides, Cyprus
Datum: 13.10.2011 - 08:13 Uhr
Sprache: Deutsch
News-ID 75620
Anzahl Zeichen: 2731
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 266 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Gulfside Minerals LTD.: Gulfside Closes Sale of Interest in ECM LLC/ Agreement"
steht unter der journalistisch-redaktionellen Verantwortung von
Gulfside Minerals LTD. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
