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| Home : Petrolympic Completes First Tranche of Non-Brokered Private Placement |
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Jul 05
2013 |
Petrolympic Completes First Tranche of Non-Brokered Private Placement |
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TORONTO, ONTARIO--(Marketwired - July 5, 2013) - Petrolympic Ltd. (TSX VENTURE:PCQ) (the "Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Private Placement"), pursuant to which it has issued 2,578,000 units of the Corporation (the "Units") at a price of $0.06 per Unit for aggregate gross proceeds of $154,680. Each Unit consists of one common share of the Corporation (a "Unit Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one common share ("a "Warrant Share") at a price of $0.10 per Warrant Share for a period of 20 months from the date of issuance (the "Expiry Time"). In the event that the common shares of the Company trade at or above $0.20 for a period of thirty (30) consecutive trading days at any time prior to the Expiry Time, the Company may accelerate the Expiry Time by giving at least thirty (30) days prior written notice (the "Notice") to the warrant holders, and in such a case the Warrants shall expire on the 30th day after the date on which such Notice is delivered by the Company or such later expiry date set out in the Notice. |
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| Source:http://www.marketwire.com/mw/release.do?id=1808633&sourceType=3 |
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