Tethys Petroleum Limited has agreed to extend the previously agreed exclusivity period with Olisol Investments Limited by 14 days to 11:59 p.m. Calgary time on December 7, 2015.

On November 9, 2015 Tethys and Olisol signed a Letter of Intent setting out proposed terms upon which Olisol Petroleum Limited, a wholly-owned subsidiary of Olisol, would provide Tethys with a US$15 million interim debt facility, subscribe to a C$25.5 million private placement of 150 million new ordinary shares at a price of C$0.17 per ordinary share and commit to backstop a further equity fundraising of 50 million shares at C$0.17 per share.

Tags: Tethys Petroleum Limited