By Laura Lutz
Des Moines, Nov. 20 - Odyssey Resources Ltd. completed the second and final tranche of its previously announced private placement of units, bringing the total deal size to C$2,105,630.
In the most recent tranche, the company sold 4.51 million units of one share and one half-share warrant at C$0.10 per unit. Each full warrant is exercisable at C$0.15 for two years.
The deal priced on Oct. 6 as a C$2 million offering with a C$500,000 greenshoe. The company sold 16,546,300 units on Oct. 27.
Proceeds will be used to finance exploration and development on the company's properties in Morocco and Turkey and for general working capital.
The deal was non-brokered.
Toronto-based Odyssey is a mining company focused on properties in the Mediterranean region.
| Issuer: | Odyssey Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2.11 million
|
| Units: | 21,056,300
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 27 (for C$1,654,630); Nov. 20 (for C$451,000)
|
| Stock symbol: | TSX Venture: ODX
|
| Stock price: | C$0.11 at close Oct. 5
|
| Stock price: | C$0.125 at close Oct. 27
|
| Stock price: | C$0.13 at close Nov. 20
|
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