Olympic Resources Ltd. Announces Private Placement
20.12.2013 | vom Unternehmen
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESDecember 20, 2013 - VANCOUVER CANADA: Olympic Resources Ltd. (TSX-V: OLA) ("Olympic" or, the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 4,000,000 units (the "Units") at a price of $0.05 per Unit, for gross proceeds of up to $200,000 (the "Offering"). Each Unit will consist of one common share (a "Share") and one non-transferrable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Share at an exercise price of $0.10 for a period of five years following the closing of the Offering.
Completion of the Offering is subject to receipt of all regulatory approvals, including the approval of the TSX Venture Exchange (the "TSXV"). All securities issued pursuant to the Offering will be subject to a statutory four month hold period.
Net proceeds from the Offering will be applied towards property staking and for general working capital purposes.
In connection with the Private Placement, Olympic may, subject to regulatory acceptance, pay a finder's fee to certain arm's length parties on the proceeds raised.
None of the securities issued in connection with the Offering will be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
On behalf of the Board of Directors,
Dean Nawata
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.