By Sheri Kasprzak
New York, March 31 - Olympus Pacific Minerals Inc. said it has concluded its previously announced private placement for C$15.66 million.
The company sold 27 million shares at C$0.58 each to Vietnam Growth Fund Ltd. and Vietnam Dragon Fund Ltd., among other investors. The offering includes the greenshoe for 1,724,138 shares exercised by a syndicate of agents led by Paradigm Capital Inc.
The syndicate also includes M Partners Inc. and CIBC World Markets Inc.
The deal priced March 17 as a C$10 million offering of 17,241,379 shares and was upsized to C$14.66 million on March 21.
The proceeds 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$15.66 million
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| Shares: | 27 million (includes greenshoe for 1,724,138 shares)
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| Price: | C$0.58
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| Warrants: | No
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| Investors: | Vietnam Growth Fund Ltd. and Vietnam Dragon Fund Ltd.
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| Placement agents: | Paradigm Capital Inc. (lead), M Partners Inc. and CIBC World Markets Inc.
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| Pricing date: | March 17
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| Settlement date: | March 30
|
| Stock symbol: | TSX Venture: OYM
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| Stock price: | C$0.61 at close March 17
|
| Stock price: | C$0.59 at close March 30
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