14 February 2014
Toronto, February 14, 2014 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is pleased to provide a funding update.
The terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013, between The Canadian Special Opportunity Fund, L.P. (“CSOF”) and Olivut provide the flexibility to alter tranche financing based on cash flow requirements and current market conditions. Therefore, in order to avoid unnecessary dilution at current stock prices Olivut has not requested additional funding at this time and accordingly, pursuant to the terms of the Agreement, CSOF has agreed to postpone the next cash advance.