foretrend

im sure tforetrend wont say no the money being drawn on now. its unused as yet, should be a update on kalimantan plant on wednesday or thursday i belive.



14/03/2007 Secures Equity Standby Facility


ASX ANNOUNCEMENT
14 March 2007

OLYMPIA RESOURCES SECURES EQUITY STANDBY FACILITY

Olympia Resources Ltd (ASX: OLY) is pleased to announce it has signed a $7,500,000
Standby Subscriptions Agreement with Fortrend Small Cap Investors Limited.

Under the facility, Fortrend has committed to provide up to $7,500,000 to Olympia to be
drawn down at Olympia’s discretion by the issue of shares to Fortrend. Olympia has the right
but not the obligation to utilise the facility and determines the timing of any drawdown which
is limited to five times average daily trading volume over the 15 trading days proceeding a
drawdown notice. The price at which shares are issued will be 90% of the average closing
price calculated over the 15 trading day period following a drawdown notice. In addition, with
each drawdown, Fortrend will receive 1 for 10 options with an exercise price of 110% of the
share issue price with an expiry date of 3 years after the drawdown date. A drawdown notice
may not be given within 15 days of another drawdown notice and shares cannot be issued
below $0.15.

Peter Gazzard, Managing Director of Olympia Resources, says “the facility will allow Olympia
to take advantage of periodic strength in share price by drawing on the facility when the price
is high and thus reducing the overall cost of capital. The facility will provide quick access to
capital and provide management with more freedom to focus exclusively on moving
Olympia’s projects to production. We are encouraged that Fortrend has found us to be a
worthy investment candidate.�