By Devika Patel
Knoxville, Tenn., May 14 - Olympus Pacific Minerals Inc. said it plans a $3 million private placement of stock.
The company will sell 16,216,216 common shares at $0.185 per share.
There is a greenshoe for an additional $1 million, or 5,405,405 shares.
Proceeds will be used for mine development.
Toronto-based Olympus Pacific is a gold exploration company focused on properties in Vietnam and Southeast Asia.
| Issuer: | Olympus Pacific Minerals Inc.
|
| Issue: | Common shares
|
| Amount: | $3 million
|
| Greenshoe: | $1 million, or 5,405,405 shares
|
| Shares: | 16,216,216
|
| Price: | $0.185
|
| Warrants: | No
|
| Pricing date: | May 14
|
| Stock symbol: | Toronto: OYM
|
| Stock price: | C$0.295 at close May 13
|
| Market capitalization: | C$59.3 million
|
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