Tethys said Monday it believed Olisol was in breach of an investment agreement between the pair after its previously agreed C$9.8 million (US$7.6 million) placement did not go ahead.
Tethys said it had worked with Olisol to complete the placement by 2 September, following approval by the Grand Court in the Cayman Islands on 19 August to reduce the par value of its ordinary shares from US$0.10
