Gold Port Announces Closing of Non-Brokered Private Placement

Executive Summary

• Gold Port Corporation closed a non‑brokered private placement, raising $1,500,000 in gross proceeds.
• The offering consisted of 20,000,000 units at $0.075 per unit, each unit containing one common share and one transferable warrant exercisable at $0.10 for three years.
• Proceeds are earmarked to advance the 100 % owned Groete Gold‑Copper Project in Guyana, which currently holds an NI 43‑101 inferred resource of 1.57 M gold‑equivalent ounces.

Key Details

• Units Issued: 20,000,000 units @ $0.075 per unit → $1,500,000 gross proceeds.
• Unit Composition: 1 common share + 1 transferable common share purchase warrant (exercise price $0.10, three‑year term).
• Finder’s Compensation: Cash fees of $40,950 and 546,000 non‑transferable finder’s warrants (exercisable at $0.075) issued to eligible finders; PowerOne Capital Markets Ltd acted as a finder for part of the placement.
• Holding Periods:
• Securities subject to a four‑month hold period under Canadian securities laws.
• Additional company‑imposed hold period expires twelve months from closing date.
• Use of Proceeds: Dedicated to advancing exploration and development of the Groete Gold‑Copper Project in Guyana.
• Project Resource Summary:
• NI 43‑101 inferred resource: 1.57 M gold‑equivalent ounces (gold + copper) within 74 million tonnes.
• Grade: 0.66 g/t gold‑copper equivalent.
• Cut‑off grade: 0.25 g/t gold‑equivalent; assumptions used: US$1,275/oz gold, US$3.00/lb copper.
• Qualified Person: Mr. William Feyerabend, CPG, a consulting geologist and director, approved the scientific and technical content of the release.

Notable Quotes

“Gold Port remains focused on unlocking the full potential of the Groete Gold Copper Project and creating long‑term value for shareholders through resource growth from responsible exploration.” – Adrian F. C. Hobkirk, President, CEO & Director.