By Sheri Kasprzak
New York, Oct. 3 - Odyssey Resources Ltd. said it has arranged a private placement of units for up to C$1.5 million.
The non-brokered deal includes up to 15 million units at C$0.10 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.15 each for two years.
The proceeds will be used for exploration on the company's properties in Morocco and Turkey.
Based in Toronto, Odyssey is a mineral exploration company.
| Issuer: | Odyssey Resources Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.5 million (maximum)
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| Units: | 15 million (maximum)
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| Price: | C$0.10
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.15
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| Pricing date: | Oct. 3
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| Stock price: | C$0.07 at close Oct. 3
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