Olivut Resources Ltd. announced a non-brokered private placement that it has issued 6,100,000 common shares at a price of CAD 0.05 per share for the aggregate gross proceeds CAD 305,000 on August 22, 2023. The common shares are subject to resale restrictions pursuant to applicable securities laws requirements and will not be freely tradable until four months after the date of issuance. The company paid a finder?s fee of CAD 2,500 equal to 5% of certain gross proceeds of the private placement. The transaction is subject to the approval of TSX Venture Exchange.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 8 placees including existing insider involvement of one insider for 1,000,000.