placement details

First few paragraphs below:

Overland Resources Limited (ASX:OVR, �Company�) is pleased to announce that
it has received binding commitments to place 47.5 million new ordinary shares at
a price of AU$0.25 per share to raise AU$11.875 million (the �Placement�). These
shares will be placed primarily to institutional and sophisticated investors in North
America that are clients of Paradigm Capital Inc., the lead manager to the
Placement.
Funds raised will be used to further advance the development of the Company�s
Yukon Base Metal Project and for general working capital purposes, including:
ƒ Completion of pre-production activities and preparation of mine permitting
submission documents;
ƒ Acceleration of exploration programmes to extend resources at known
deposits/prospects and to evaluate numerous high priority regional
targets;
ƒ Pursuit of additional growth opportunities.
The Placement will be completed in two tranches:
ƒ The first tranche will comprise the issue of 21 million shares
(approximately 44% of the Placement) under the Company�s 15%
capacity. This tranche will be settled on or around 10 March 2011.
ƒ The Company will seek shareholder approval at an extraordinary general
meeting to be held on or around March 30, 2011 to approve the second
tranche, which shall comprise the issue of a further 26.5 million shares.
Subject to shareholder approval, this tranche will settle on or around 2
April 2011.