OLV Olivut Resources Ltd

Olivut Resources Ltd. ("Olivut" or the "Company") (TSX VENTURE:OLV) announces
that pursuant to the terms of the Securities Purchase Agreement (the
"Agreement") dated March 12, 2013 to raise up to $18 million over approximately
the next 36 months in a tranched placement of securities to the Canadian Special
Opportunity Fund, L.P. ("CSOF"), CSOF has elected not to receive common shares
as repayment for the initial $200,000 tranche funding received on March 13,
2013. In accordance with the terms of the Agreement, at the Company's election
the initial $200,000 tranche financing that would otherwise be repayable to CSOF
will instead be set off against the prepayment due in connection with a
subsequent cash advance under the Agreement. Therefore, the $200,000 of common
shares to repay this initial cash advance that were initially expected to be
issued on April 9, 2013 are now expected to be issued on May 10, 2013. 


The terms of the Agreement permit the Company to take into account current
market conditions to avoid excessive dilution.


Olivut is a diamond exploration company with a 100% mineral interest in over
142,000 acres in the HOAM Project in Canada's Northwest Territories and an
agreement with Latin American Minerals Inc. and certain of its Paraguayan
subsidiaries to explore the Itapoty Diamond Project located in central Paraguay,
South America. Please visit www.olivut.com for detailed corporate and project
information.


Copies of the qualifying base shelf prospectus dated March 11, 2013 and the
prospectus supplement dated March 12, 2013 are available on SEDAR. These
documents, as well as any documents incorporated therein by reference may be
obtained on request without charge from Olivut, at its offices located at 27010
Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a
written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V
1X8 or by accessing the disclosure documents available through the internet on
the Canadian System for Electronic Document Analysis and Retrieval (SEDAR)
website at www.sedar.com.


This press release contains forward-looking statements with respect to the
Company, and matters concerning the raising of additional capital, the business,
operations, strategy, and financial performance of the Company. Actual results
may differ materially from those indicated by such statements. These statements
generally, but not always, can be identified by use of forward-looking words
such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe"
or "continue" or the negative thereof or similar variations. All statements,
other than statements of historical fact, included herein, including, without
limitations statements regarding future production, are forward-looking
statements that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements.
Such forward-looking statements are qualified in their entirety by the inherent
risks and uncertainties surrounding future expectations, including that the
estimates and projections regarding the Company's properties are realized.
Forward-looking statements are based on a number of assumptions which may prove
to be incorrect. Unless otherwise stated, all forward-looking statements speak
only as of the date of this press release and the Company does not undertake any
obligation to update such statements except as required by law.


Leni Keough, P.Geo. 

President and Chief Executive Officer 

FOR FURTHER INFORMATION PLEASE CONTACT: 
Olivut Resources Ltd.
Leni Keough
President and Chief Executive Officer
(780) 866-2226
www.olivut.com

Olivut Resources (TSXV:OLV)
Historical Stock Chart
From May 2024 to Jun 2024

Olivut Resources (TSXV:OLV)
Historical Stock Chart
From Jun 2023 to Jun 2024