By Sheri Kasprzak
New York, March 8 - Golden Odyssey Mining Inc. said it arranged a C$2.4 million private placement.
The offering includes up to 14,117,647 units at C$0.17 each.
The units consist of one share and one warrant. The warrants are exercisable for two years at C$0.22 each.
Proceeds will be used for drilling on the company's Morningstar and Palmetto properties and for continued work on the company's Cortez and Carlin trends. The remainder will be used for working capital.
The offering is scheduled to close March 14.
Based in Toronto, Golden Odyssey is a gold exploration company.
| Issuer: | Golden Odyssey Mining Inc.
|
| Issue: | Units of one share and one warrant
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| Amount: | C$2.4 million
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| Units: | 14,117,647
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| Price: | C$0.17
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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$0.22
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| Pricing date: | March 8
|
| Settlement date: | March 14
|
| Stock symbol: | TSX Venture: GOE
|
| Stock price: | C$0.26 at close March 8
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