/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION THROUGH
US NEWSWIRE SERVICES/
Trading Symbol: GPO Stock Exchange: TSX Venture Exchange
VANCOUVER, March 6 /CNW/ - Gold Port Resources Ltd. ("Gold Port" or the
"Company") is pleased to announce that it intends to complete a non-brokered
private placement to raise gross proceeds of up to $2,300,000 through the
issuance of an aggregate of 5,000,000 units ("Units") at a price of $0.46 per
Unit. Each Unit will be comprised of one common share and one half of one
transferable common share purchase warrant. Each whole purchase warrant (a
"Warrant") will entitle the holder to acquire one common share for a period of
two years from closing at an exercise price of $0.65 per common share. The
Company will also have the option to sell up to an additional 1,500,000
additional Units at the issue price until closing for additional gross
proceeds of up to $690,000.
All of the securities issued and issuable in connection with the
financing will be subject to a hold period until the date that is four months
and one day following the closing of the financing.
The Company has agreed to pay a commission of 6% of the gross proceeds
raised to eligible persons that arrange for purchasers ("Registrants").
Registrants may elect to receive the commission in cash or, in whole or in
part, in Units at a deemed price equal to the offering price. Registrants will
also receive broker warrants equal in number to 10% of the aggregate number of
Units sold under the Offering, each of which will be exercisable for a period
of two years from closing and will entitle the Registrants to purchase one
Unit at an exercise price of $0.46.
The private placement is subject to the approval of the TSX Venture
On Behalf of the Board of Directors of Gold Port Resources Ltd.
Adrian F.C. Hobkirk
President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Adrian Hobkirk, President at (604) 684-1782,
Toll Free 888-898-4788, Website: www.resourceexploration.com