Deal permits company to meet commitments, finances exploration program
By Devika Patel
Knoxville, Tenn., March 22 - Olympus Pacific Minerals Inc. said it plans a private placement of common stock in the form of Chess Depository Interests. The A$16.8 million deal will be conducted in Australia and Europe via lead manager Patersons Securities Ltd.
The company will sell 42 million CDIs at A$0.40 apiece, an 11.11% discount to A$0.45, the closing share price on March 21.
Proceeds will be used for the company's exploration program and allow Olympus to meet its commitments for general working capital.
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 in the form of Chess Depository Interests
|
| Amount: | A$16.8 million
|
| CDIs: | 42 million
|
| Price: | A$0.40
|
| Warrants: | No
|
| Manager: | Patersons Securities Ltd. (lead)
|
| Pricing date: | March 4
|
| Stock symbol: | Australia: OYM
|
| Stock price: | A$0.45 at close March 21
|
| Market capitalization: | A$145.92 million
|
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