Petrolympic Ltd. announces termination of private placement financing, The Canadian Business Journal

TORONTO, November 24, 2022 (GLOBE NEWSWIRE) — Petrolympic Ltd.Company“, TSXV: PCQ) is a private placement without an intermediary (“Recruitment“) 5,881,800 common shares of the Company on a flow-through basis (“FT stock”) at a price of $0.11 per 1 FT share, total revenue of $646,998.

In connection with the offering, the Company will pay an aggregate Discoverer Commission of $19,409.94 and issue an aggregate amount of 215,666 Discoverer Shares (“Discoverer Shares”) at a 20-day VWAP price of $0.09 per Discoverer Share. Did.

The holding period for securities issued under the offering is 4 months and 1 day from the date of issue.

We will use the net proceeds of the offering to explore our mineral properties located in Quebec.

For more information, please contact:

Mendel Eckstein – President and CEO

82 Richmond Street East
Toronto, Ontario M5C 1P1
Phone 845-656-0184 Fax 845-231-6665

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER HAS REVIEWED AND IS NOT RESPONSIBLE FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Note Regarding Forward-Looking Information

Certain information contained in or incorporated by reference in this press release, including information regarding the proposed acquisition, constitutes “forward-looking statements.” All statements other than statements of historical fact are considered forward-looking statements. Forward-looking statements must be based on a number of estimates and assumptions. These are deemed reasonable by us, but are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although we believe that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees 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 the economic and global market impact of the COVID-19 pandemic, market price volatility, exploration and development success, continued availability of capital and funding, national and local government changes in law, taxation, administration, regulation, expropriation or nationalization of property, and general political, economic, market or business conditions; Many of these uncertainties and unforeseen circumstances may affect our actual results, which may be expressed or implied in any forward-looking statements made by or on our behalf. It may differ significantly from what is presented. Readers are cautioned that forward-looking statements are not guarantees of future performance. Readers are therefore advised to rely on their own assessment of such uncertainties. All forward-looking statements made or incorporated by reference in this press release are qualified by these cautionary statements. We undertake no obligation to update any forward-looking statements.

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