PETROLYMPIC COMPLETES NON-BROKERED PRIVATE PLACEMENT

PETROLYMPIC COMPLETES NON-BROKERED PRIVATE PLACEMENT
TORONTO, ONTARIO (May 15, 2015) – Petrolympic Ltd. (TSX-V: PCQ) (the "Company") is
pleased to announce the completion of a non-brokered private placement (the "Private
Placement") of 2,521,500 "flow-through" shares (the "Flow-Through Shares") at a price of
$0.37 per Flow-Through Share and 384,600 units of the Company ("Units") at a price of $0.325
per Unit, for a total of gross proceeds of $1,057,950.
Each Unit consists of one common share of the Company (a "Unit Share") and one-half of one
common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant entitling
the holder thereof to purchase one additional common share (a "Warrant Share") at a price of
$0.45 per Warrant Share for a period of 18 months from the date of issuance.
The proceeds from the Private Placement will be used to further the Company's exploration and
drilling programs on its properties in the Gaspe region of Quebec. Recent activity in this area has
led to significant initial oil and gas production for other drillers as well as very strong test results
within the Company's extensive Gaspe acreage.
As consideration for their services, Marquest Capital Markets and Secutor Capital Management
Corp. received a cash finder's fees equal to 5% of the gross proceeds and that number of finder's
warrants ("Finder's Warrants") which is equal to 5% of the total number of Units and Flow-
Through Shares sold pursuant to the Private Placement, each finder's warrant exercisable into one
common share of the Company (a "Finder's Warrant Share") for a period of 18 months from
the date of issuance at a price of $0.325, in the case of Finder's Warrants issued for the subscribed
Units and, $0.37 in the case of Finder's Warrants issued for the subscribed Flow-Through Shares.
The issued securities carry a four-month hold period under Canadian securities laws from the
date of issuance.
The Company received a final approval of the TSX Venture Exchange for the issuance of the
Flow-Through Shares, the Units and the Finder's Warrants and listing of the Flow-Through
Shares, the Unit Shares, the Warrant Shares and the Finder's Warrant Shares pursuant to the
Private Placement.
FORWARD-LOOKING STATEMENTS
This press release includes certain "forward-looking information" within the meaning of the
Securities Act (Ontario), including, but not limited to, statements as to timing and extent of
exploration programs and the availability of exploration results. As such, forward-looking
information addresses future events and conditions and so involves inherent risks and
uncertainties, as disclosed under the heading "Risk Factors" and elsewhere in Petrolympic
documents filed from time to time with the Ontario Securities Commission and other regulatory
authorities. Actual results could differ significantly from those currently projected as a result of,
among those factors, adverse weather, regulatory changes, delays in receiving permits, accidents
and delays in completing exploration activities not all of which are in the control of Petrolympic.
The forward-looking information contained herein is Petrolympic's reasonable estimate today of
future events and conditions, but no assurance can be given that such events or conditions will
occur.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
For more information, please contact:
Mendel Ekstein
Petrolympic Ltd.
exis@petrolympia.com