Robert L Card, President of Gulfside Minerals Ltd. (the "Company") (TSX VENTURE:GMG) is pleased to announce that all subscriptions for the non-brokered private placement of 1,000,000 units @ $1.00 per unit originally announced on July 27, 2007 have been received, and will be forwarded to the TSX Venture Exchange for final approval.
The Company is also pleased to report that investors associated with Mr. Bernard Tubeileh (member of Company's Advisory Board), have taken down 600,000 units of the private placement.
A total of 1,000,000 units at a price of $1.00 per unit are being sold and will result in gross proceeds to the Company of $1,000,000. Each unit consists of one common share and one transferable share purchase warrant entitling the holder to purchase an additional common share at a price of $1.23 for a period of one year from closing of the private placement.
All of the securities will be subject to a four-month hold period expiring from the date of closing of the private placement.
Finder's fees may be paid in accordance with the TSX Venture Exchange rule. -Gulfside Minerals
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