Norvista Capital Announces Closing of $3,325,000 Equity Financing

About this update from Olive Resource Capital Inc.

[{"type":"text","content":"Norvista Capital Announces Closing of $3,325,000 Equity FinancingTORONTO, ON / ACCESSWIRE / March 29, 2016 / Norvista Capital Corporation (TSXV: NVV) (\"Norvista\" or the \"Company\") is pleased to announce that it has completed its previously announced non-brokered private placement (the \"Offering\"). Pursuant to the Offering, Norvista issued 27,708,332 common shares (the \"Offered Shares\") at a price of $0.12 per Offered Share for aggregate gross proceeds to Norvista of $3,325,000. After giving effect to the Offering, the Company will have 71,361,501 common shares issued and outstanding. The net proceeds of the Offering will be used by the Company to invest in both public and private companies engaged in the exploration and development of base and precious metal projects in the junior resource sector and for general working capital purposes.\nThe Offered Shares issued pursuant to the Offering are subject to a four month and one day hold period expiring on July 30, 2016. \nStan Spavold, Chairman, Don Christie, CEO & Director and Bruce Durham, Managing Director and Director of Norvista, purchased an aggregate of 1,458,332 Offered Shares pursuant to the Offering. Upon completion of the Offering, Messrs. Spavold, Christie and Durham hold an aggregate of 2,661,695 common shares of Norvista or approximately 3.73% of the total common shares issued and outstanding. The participation of these officers and directors pursuant to the Offering constituted a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") and the policies of the TSX-V. The Company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(b) and 5.7(1)(a), respectively, of MI 61-101 on the basis that the Company is not listed on a specified stock exchange and, at the time the Offering was agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction insofar as it involves interested parties (within the meaning of MI 61-101) in the Offering, exceeds 25% of the Company's market capitalization calculated in accordance with MI 61-101. The Company was not in a position to file a material change report more than 21 day...

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