By Devika Patel
Knoxville, Tenn., Dec. 18 - Odyssey Resources Ltd. said it completed the first tranche of a C$1 million non-brokered private placement of stock for C$765,000.
The company sold 3,825,000 flow-through common shares at C$0.20 each in this tranche. It may sell an additional 1,175,000 shares.
Proceeds will be used for exploration.
Toronto-based Odyssey is a mining company focused on properties in the Mediterranean region.
| Issuer: | Odyssey Resources Ltd.
|
| Issue: | Flow-through common stock
|
| Amount: | C$1 million
|
| Shares: | 5 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 18 (for C$765,000)
|
| Stock symbol: | TSX Venture: ODX
|
| Stock price: | C$0.18 at close Dec. 17
|
| Market capitalization: | C$5.67 million
|
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