By Sheri Kasprzak
New York, March 21 - Olympus Pacific Minerals Inc. has increased to C$14.66 million its previously announced C$10 million stock offering.
The company will now offer 25,275,862 shares at C$0.85 each.
The syndicate of placement agents associated with the offering, which includes Paradigm Capital Inc., M Partners and CIBC World Markets, has an over-allotment option for up to C$1 million.
The offering is expected to close March 31.
The deal priced March 17 as a C$10 million offering of 17,241,379 shares.
The proceeds from the offering will be used to rehabilitate the company's Bong Mieu underground project and to develop its Dak Sa underground project. The rest will be used for general corporate purposes.
Toronto-based Olympus is a gold exploration company.
Issuer: | Olympus Pacific Minerals Inc.
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Issue: | Stock
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Amount: | C$14.66 million
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Greenshoe: | For up to C$1 million
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Shares: | 25,275,862
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Price: | C$0.58
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Warrants: | No
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Placement agents: | Paradigm Capital Inc., M Partners Inc. and CIBC World Markets Inc.
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Pricing date: | March 17
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Upsized: | March 20
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Settlement date: | March 31
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Stock symbol: | TSX Venture: OYM
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Stock price: | C$0.61 at close March 17
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Stock price: | C$0.59 at close March 20
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