TORONTO, March 05, 2025 (GLOBE NEWSWIRE) — Petrolympic Ltd. (the “Company“) (TSX.V: PCQ – OTCQB:PCQRF) is pleased to announce the closing of a non-brokered private placement (the “Offering“), consisting of 3,000,000 units (“Units“) at a price of $0.05 per Unit to raise aggregate gross proceeds of $150,000.
Each Unit consists of one common share (“Common Share“) of the Company and one Common Share purchase warrant (“Warrant“). Each Warrant entitles the holder thereof to purchase a Common Share at $0.10 per share for a period of 24 months from closing, subject to acceleration in the event that the Common Shares trade at or above $0.20 for 20 consecutive trading days.
All securities issued in connection with this Offering are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.
About Petrolympic
Petrolympic is a Junior Canadian gold and lithium mining company in North America. The Company is presently focused on its lithium exploration assets in the James Bay region, Basserode and Fournière in Abitibi region as well as its gold exploration assets at Vauquelin and Rayon d’Or in the Val d’Or region, all in the Province of Quebec, Canada.
For further information please contact:
Mendel Ekstein – President & CEO
82 Richmond St East
Toronto, ON M5C 1P1
Tel. 845-656-0184 Fax 845-231-6665
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information regarding the proposed acquisition, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: economic and global market impacts of the COVID-19 pandemic, fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.
