By Sheri Kasprzak
New York, Oct. 11 - Odyssey Resources Ltd. said it has upsized to C$1.75 million its previously announced C$1.5 million private placement.
The company will now sell up to 17.5 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 offering was first announced Oct. 3 as including up to 15 million units under the same terms.
The non-brokered deal is expected to close Oct. 19.
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$1.75 million (maximum)
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Units: | 17.5 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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Placement agent: | Non-brokered
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Pricing date: | Oct. 3
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Upsized: | Oct. 11
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Settlement date: | Oct. 19
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Stock price: | C$0.07 at close Oct. 3
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Stock price: | C$0.09 at close Oct. 11
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