New York, Feb. 24 - Golden Odyssey Mining Inc. said that it plans to sell a private placement of up to C$2 million of units.
The Calgary, Alta., mineral exploration company plans to sell 11,764,705 units at a price of C$0.17 per unit.
Each unit will consist of one common share and a warrant to buy a common share at C$0.22 for two years.
Golden Odyssey said is has dropped previous plans for a C$750,000 private placement at C$0.25 per unit.
Proceeds will be used for drilling on the company's Morningstar and Palmetto properties, to continue programs on its other properties and for general working capital.
| Issuer: | Golden Odyssey Mining Inc.
|
| Issue: | Units of stock and warrants
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| Amount: | C$2 million
|
| Units: | 11,764,705
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| Price: | C$0.17
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| Warrants: | One warrant per unit
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| Warrant strike price: | C$0.22
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| Warrant expiration: | 2 years
|
| Announcement date: | Feb. 24
|
| Settlement: | March 14
|
| Stock price: | C$0.22
|
| Symbol: | TSX Venture: GOE
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