October 16, 2020 / Vancouver, BC / Corsurex Resource Corp., (CSE: CRC) (the “Company”) announces that it has closed its oversubscribed non-brokered private placement (the “Private Placement”) issuing a total 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 Instrument 43-101 Technical Report which describes the gold copper resource located on the project is available at the Company website at www.goldportcorporation.com. Gold Port Corporation is applying 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 Group Inc. has been contracted for CAD$244,000 and Axe Communications 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
President, CEO and Director
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contained 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. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.