Gold Port increases private placement to $1.5-million

Executive Summary

• Gold Port Corp. increased its non‑brokered private placement to a maximum of 20 million units at C$0.075 per unit, targeting gross proceeds of up to $1.5 million.
• Each unit consists of one common share and one transferable warrant allowing purchase of an additional share at C$0.10 for three years post‑closing.
• Proceeds will be used to advance the 100 % owned Groete gold‑copper project in Guyana, which currently holds a NI 43‑101 inferred resource of 1.57 M AuEq oz (74 Mt @ 0.66 g/t AuEq).

Key Details

• Placement Size: Up to 20 million units (previously lower)
• Unit Price: C$0.075 per unit
• Gross Proceeds Target: Up to $1.5 million CAD
• Composition of Each Unit:
• 1 common share of Gold Port Corp.
• 1 transferable common share purchase warrant (exercise price C$0.10, exercisable for three years from closing)
• Finder’s Fees: Company may pay eligible finders in compliance with securities laws and CSE policies.
• Regulatory Conditions: Subject to approval by the Canadian Securities Exchange; all securities subject to a 12‑month hold period post‑closing.
• Use of Proceeds: Funding for exploration, development, and resource expansion at the Groete gold‑copper project in Guyana.
• Current Resource Estimate (NI 43‑101, 2012):
• Inferred resource: 1.57 M gold‑equivalent ounces (AuEq oz)
• Contained in 74 Mt of material
• Grade: 0.66 g/t AuEq
• Cut‑off grade: 0.25 g/t AuEq (gold price $1,275/oz; copper price $3/lb)
• Project Potential: Company highlights significant upside potential for resource expansion and higher classification.

Notable Quotes

(No direct CEO/President quotes were provided in the release.)