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.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.75 million (maximum)
|
| Units: | 17.5 million (maximum)
|
| 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
|
| Settlement date: | Oct. 19
|
| Stock price: | C$0.07 at close Oct. 3
|
| Stock price: | C$0.09 at close Oct. 11
|
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