By Devika Patel
Knoxville, Tenn., Sept. 23 - Odyssey Petroleum Corp. announced it plans a private placement of units for C$1 million.
The company will sell 20 million units of one common share and one warrant at C$0.05 per unit. Each warrant will be exercisable at C$0.10 for one year.
Proceeds will be used for exploration and development of the company's Mississippi oil and gas assets and for general working capital.
Odyssey is an oil and gas company based in Vancouver, B.C.
| Issuer: | Odyssey Petroleum Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Pricing date: | Sept. 23
|
| Stock symbol: | TSX Venture: ODE
|
| Stock price: | C$0.045 at close Sept. 22
|
| Market capitalization: | C$8.42 million
|
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