Resource Capital Fund V L.P. Acquires Units of Gold Port Resources Ltd.
DENVER, Nov. 19 /CNW/ - Resource Capital Associates ("RCF V") announces that on November 4, 2010 it acquired 9,200,000 units ("Units") of Gold Port Resources Ltd. ("Gold Port") pursuant to a private placement (the "Private Placement"). Each Unit consists of one common share and one common share purchase warrant (a "Warrant"). The Units were acquired at a purchase price of CDN$0.085 per Unit representing an aggregate purchase price of CDN$782,500. Prior to the Private Placement RCF V did not hold any common shares of Gold Port.
The common shares acquired by RCF V pursuant to the Private Placement currently represent 10.33% of the issued and outstanding common shares of Gold Port. Assuming the exercise of the Warrants, RCF V will have acquired 18,400,000 common shares, or 18.72% of the current issued and outstanding common shares of Gold Port.
The shares of Gold Port were acquired by RCF V for investment purposes. Depending upon market conditions and other factors that RCF V may deem material to its investment decisions, additional shares may be purchased in the open market or in private transactions. Depending on these same factors, shares currently owned (or hereafter acquired) by RCF V may be sold in the open market or in private transactions.
For further information: For further information:
For additional information concerning the foregoing or a copy of the Early Warning Report referred to in this release, please contact:
Brian Dolan
RCF Management L.L.C.
Tel: 720-946-1444
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