GALE FORCE PETROLEUM RETAINS ALTERNATIVE INVESTMENT PARTNERS TO BROKER FINANCING
Thursday, July 29th, 2010
Montreal, July 29, 2010 – Gale Force Petroleum Inc. (TSX Venture: GFP, the “Corporation”) today announced that it has engaged Alternative Investment Partners, a division of Kingsmont Investment Management Inc., to broker a best-efforts private placement financing to finance acquisitions and the development of its properties.
The Corporation expects to raise between $1,000,000 and $3,000,000 in the private placement through the issuance of Units issued at a price of $0.30. Each Unit shall consist of one common share of the Corporation and one-half warrant. Each warrant will entitle its holder to purchase one common share of the Corporation for $0.50 for a period of 18 months following the closing of the financing. The financing is subject to TSX Venture Exchange approval.
The Corporation expects to raise between $1,000,000 and $3,000,000 in the private placement through the issuance of Units issued at a price of $0.30. Each Unit shall consist of one common share of the Corporation and one-half warrant. Each warrant will entitle its holder to purchase one common share of the Corporation for $0.50 for a period of 18 months following the closing of the financing. The financing is subject to TSX Venture Exchange approval.