- Petrolympic Ltd issued 4,000,000 units at a price of $0.10 per unit for aggregate gross proceeds of $400,000
- Petrolympic paid an aggregate cash finders fee of $24,000 and issued 240,000 compensation warrants to Laurentian Bank Securities Inc.
- Proceeds will be used to explore the Belcourt and the Rayon D’Or properties located in Quebec
- Petrolympic Ltd is an exploration company engaged in the exploration and development of petroleum light crude oil and natural gas properties
- Petrolympic Ltd. (PCQ) opened trading at C$0.07 per share
Petrolympic Ltd has completed a non-brokered private placement for gross proceeds of $400,000.
The company issued 4,000,000 units at a price of $0.10 per unit. Each unit consists of one common share issued on a flow-through basis, and one-half of one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of $0.16 for a period of two years from the date of issuance.
Petrolympic paid an aggregate cash finders fee of $24,000 representing 6 per cent of the gross proceeds of the offering. Petrolympic also issued 240,000 compensation warrants to the finders. Laurentian Bank Securities Inc. was engaged as the exclusive finder in connection with the offering.
The securities issued are subject to a hold period of four months and one day from the date of issuance.
Proceeds will be used to explore the Belcourt and the Rayon D’Or properties located in Quebec.
Petrolympic Ltd is an exploration company engaged in the acquisition, exploration and development of petroleum light crude oil and natural gas properties.
Petrolympic Ltd. (PCQ) opened trading at C$0.07 per share.