Petrolympic Ltd. Announces Closing Of Private Placement Fina...| MENAFN.COM

Saturday, 10 December 2022 06:18 GMT

Petrolympic Ltd. Announces Closing Of Private Placement Financing

(MENAFN- GlobeNewsWire - Nasdaq)

TORONTO, Nov. 24, 2022 (GLOBE NEWSWIRE) -- Petrolympic Ltd. (the ' Company ', TSXV: PCQ) wishes to announce it has completed a non-brokered private placement (the ' Offering ') of 5,881,800 common shares of the Company on a flow-through basis (“ FT Shares ”) at a price of $0.11 per FT Share, for aggregate gross proceeds of $646,998.

In connection with the Offering, the Company paid finder's commissions of an aggregate of $19,409.94 and issued an aggregate of 215,666 finder's shares (the 'Finder's Shares') at the 20-day VWAP price of $0.09 per Finder's Share.

The securities issued under the Offering have a hold period of four months and one day from the date of issuance.

The Company will use the net proceeds of the Offering to explore the Company's mineral properties located in Quebec.


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