Vancouver — Olympus Pacific Minerals (OYM-V) has arranged a brokered private placement worth up to $1.5 million. The proceeds will be used fund the company’s ongoing mineral exploration and development program on the Phuoc Son project in Vietnam as well as for general corporate purposes.
The financing will consist of up to 3.75 million units at a price of $0.40 per unit. Each unit will consist of one common share and one non- transferable share purchase warrant. Each warrant will entitle the owner to acquire one additional common share for a period of one year at a price of $0.40 per share.
Haywood Securities is the Agent for the placement and has the right to increase the placement by up to 1.25 million units at the same terms, up to 48 hours prior to the closing date.
The financing is still is subject to approval of the board of directors of Olympus Pacific as well as regulatory approval.
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