Gold Port Corporation Announces Closing of Oversubscribed Non-Brokered Private Placement
#804 – 750 West Pender Street, Vancouver, BC, V6C 2T7
T: 604.682.2928 / F : 604.685.6905
Gold Port Corporation Announces Closing of
Oversubscribed Non-Brokered Private Placement
Vancouver, British Columbia / October 16, 2020 – Gold Port Corporation CSE: GPO (the
“Company”) announces that it has closed its oversubscribed non -brokered private placement (the
“Private Placement”) issuing a to tal of 28,575,832 units (the “ Units”) at CAD$0.12 per Unit for total
gross proceeds of CAD$3,429,099.92.
Each Unit consists of one common share (the “ Shares”) and one transferable common share purchase
warrant (the “Warrants”) with each Warrant entitling the holder to purchase one Share of the Company
at a price of CAD$0.16 per Share for a period of 5 years from the respective closing dates of the Private
Placement.
All securities issued will be subject to a four month hold period pursuant to securities laws in Canada.
The Company paid total finder’s fees of $151,722.53 and 1,256,360 finder’s warrants (the “ Finder’s
Warrants”) to PowerOne Capital Markets Limited , Canaccord Genuity Corp., Haywood Securities Inc.,
Mackie Research Capital Corporation, Leede Jones Gable Inc. and PI Financial Corp.
The Company is now well funded to complete a proposed 12,000 meter drill program at the 100% owned
Groete Gold Copper Project located in Guyana, S.A. A National Inst rument 43 -101 Technical R eport
which describes the gold copper resource located on the projec t is available at the Company website at
www.goldportcorporation.com. Gold Port Corporation is a pplying for listing on the OTC Markets
Quality Board, and the Frankfurt Stock Exchange, to facilitate investor exposure.
To enhance market awareness, the Company has retained two providers of digital advertising. Market IQ
Media G roup Inc . has been contracted for CAD$244,000 an d Axe Commu nications Inc. has been
contracted for CAD$156,000, to provide digital advertising services in a 12 month program with a total
value of CAD$ 400,000.
ON BEHALF OF THE BOARD OF DIRECTORS
Adrian F.C. Hobkirk,
President, CEO and Director
T: 9546848040
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contain ed in this release are forward -looking statements, such as estimates and statements that describe the
Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result
to occur. S ince forwa rd-looking statements address future events and conditions, by their very nature, they invo lve inh erent risks a nd
uncertainties. For a description of the risks an d uncertainties facing the Company and its business and affairs, readers should ref er to the
Company's Management's Discussion and Analysis and other disclosure fil ings with Canadian s ecurities regulators , which are posted on
www.sedar.com.