Non-brokered offering finances projects, general corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 16 - Olivut Resources Ltd. said Thursday that it will conduct a C$3 million non-brokered private placement of stock.
The company will sell 1.6 million flow-through common shares at C$1.25 apiece and 909,090 common shares at C$1.10 apiece. The prices per share are 35.87% and 19.57% premiums, respectively, to C$0.92, the Dec. 14 closing share price.
Proceeds will be used to fund the company's projects and for general corporate purposes.
Olivut is a Toronto-based diamond exploration company.
| Issuer: | Olivut Resources Ltd.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$3 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 15
|
| Stock symbol: | TSX Venture: OLV
|
| Stock price: | C$0.87 at close Dec. 15
|
| Market capitalization: | C$26.9 million
|
|
|
| Flow-through stock
|
| Amount: | C$2 million
|
| Shares: | 1.6 million
|
| Price: | C$1.25
|
|
|
| Common stock
|
| Amount: | C$1 million
|
| Shares: | 909,090
|
| Price: | C$1.10
|
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