Olivut Resources Provides Funding Update; Stock Drops 2%
Olivut Resources Ltd. (OLV.V) announced that pursuant to the terms of the Securities Purchase Agreement to raise up to $18 million over approximately 36 months in a tranched placement of securities to the Canadian Special Opportunity Fund, L.P., Canadian Special Opportunity Fund has advanced to the company $64,500 for the next tranche financing for which it is anticipated shares will be issued on July 11, 2013.
OLV was down about 2% to 30 cents, trading at the lower end of 52-week range $0.20 - $1.48.
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