By Sheri Kasprzak
New York, Aug. 25 - Odyssey Energy Ltd. said it plans to conclude a A$6 million private placement.
Sophisticated investors agreed to buy 10 million of the company's shares in the offering.
Argonaut Securities Pty. Ltd. is the placement agent.
Proceeds will be used for the acceleration of drilling and development at the North Helper gas project in Utah, for business development and for working capital.
Located in Perth, Western Australia, Odyssey is an oil and natural gas exploration company.
| Issuer: | Odyssey Energy Ltd.
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| Issue: | Stock
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| Amount: | A$6 million
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| Shares: | 10 million
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| Price: | A$0.60
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| Warrants: | No
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| Placement agent: | Argonaut Securities Pty. Ltd.
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| Announcement date: | Aug. 25
|
| Stock symbol: | Australia: ODY
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| Stock price: | A$0.645 at close Aug. 25
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