#Canada #Vancouver #Private Placement #Groete Project #Gold Port

Gold Port Corporation Expands Non-Brokered Private Placement

Gold Port Corporation (CSE: GPO) (OTCQB: GPOTF) has made a significant announcement regarding their non-brokered private placement aimed at supporting their growth initiatives. Due to overwhelming demand from investors, the company has decided to increase the offering from an original plan, raising it to 20,000,000 units at a price of $0.075 per unit, potentially yielding up to $1,500,000.

Each unit in this placement includes one common share, along with one transferable common share purchase warrant. Each warrant gives the holder the right to purchase an additional share at an exercise price of $0.10 each for a period of three years following the completion of the private placement.

This increase comes as part of their strategic plan to enhance the development of their flagship Groete Gold Copper Project located in Guyana, South America. The Groete Project is notable for its substantial inferred resources, currently hosting 1.57 million gold equivalent ounces within an estimated 74 million tonnes of mineralized material, graded at 0.66 grams per tonne gold copper equivalent. This resource was last evaluated in 2012, and conditions for potential expansion are actively under investigation.

“Unlocking the full potential of the Groete Gold Copper Project is our top priority,” stated Adrian F. C. Hobkirk, President and CEO of Gold Port. “The funds from this placement will allow us to accelerate our exploration efforts, thereby creating long-term value for our shareholders through responsible and sustainable resource growth.”

The proceeds from the private placement will not only aid in exploration costs but will also cover operational expenses and further development projects associated with the Groete site. The company aims to improve the property from an inferred resource classification to a higher category, equipping itself for a more robust future in gold and copper production.

Gold Port is thus laying a solid groundwork for strategic advancements and growth within the mining sector. Through rigorous efforts and investment in their key projects, they hope to cut through the volatile market to achieve long-lasting success.

The offering is pending approval from the Canadian Securities Exchange (CSE), and all associated securities will be subject to a hold period of twelve months following the closure of the private placement.

In light of regulatory requirements, Gold Port may pay finders’ fees to eligible entities, and the company is complying with all appropriate securities laws to ensure a transparent and fair investment process.

As Gold Port steers toward enhancing its resource profile, interested investors are encouraged to stay informed through official releases and updates on their website, Gold Port Corporation.

In conclusion, Gold Port Corporation is making strides to solidify its position in the resource sector despite challenges. The enhanced private placement puts the company in a prime position to leverage growth opportunities in the rapidly evolving mining landscape.