GFP alive but how well?

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gemoz

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GFP alive but how well?

posted on Jul 31, 2010 10:37AM

New acquisitions and Private Placements like this one:

"Jul. 29, 2010 (Canada NewsWire Group) --

MONTREAL, July 29 /CNW Telbec/ - 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."

GFP share price still remains close to the pre-RS of ,005. Trading volume continues to be very low. PPs usually have a hold period of 121 days before being tradeable. Recent SP above .30 is a small improvement.