By Sheri Kasprzak
New York, Nov. 18 - Gulf Shores Resources Ltd. plans to raise C$2 million in a private placement of subscription receipts.
The offering includes 8 million receipts at C$0.25 each.
The receipts are exchangeable on a one-for-one basis for units of one share and one warrant.
The warrants are exercisable at C$0.40 each for two years.
Based in Vancouver, B.C., Gulf Shores is an oil exploration company.
| Issuer: | Gulf Shores Resources Ltd.
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| Issue: | Subscription receipts exchangeable for units of one share and one warrant
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| Amount: | C$2 million
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| Receipts: | 8 million
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| Price: | C$0.25
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| Warrants: | One warrant per unit upon exchange
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| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Pricing date: | Nov. 17
|
| Stock price: | C$0.37 at close Nov. 17
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