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Odyssey Health, Inc. Gains Shareholder Approval for Asset Sale with Oragenics, Inc.
Odyssey Health, Inc. Gains Shareholder Approval for Asset Sale with Oragenics, Inc..
About this update from Odyssey Health Inc.
[{"type":"text","content":"LAS VEGAS, NV / ACCESSWIRE / December 12, 2023 / Odyssey Health, Inc. (OTCOB:ODYY), a company focused on developing unique, life-enhancing medical products including a drug treatment intended to treat concussion, announces that it has received stockholder approval for the sale of its neurological drug platform technology.A Special Meeting of Odyssey stockholders was held on December 7, 2023, at the law offices of Brinen &Associates. At the Special Meeting, the stockholders: (1) approved the asset purchase agreement of its neurological drug therapies and technologies to Oragenics, Inc. with 45,032,700 voting for the proposal and 382,191 voting against or abstaining.Upon receiving stockholder approval for the asset sale, one of the conditions to closing the transaction, Odyssey received its second $500,000 payment from Oragenics on December 11, 2023.The Asset Purchase Agreement provides for consideration to Odyssey of one million dollars ($1,000,000), five hundred thousand ($500,000) was paid on signing and five hundred thousand ($500,000) was paid on the successful proxy vote of the Odyssey stockholders. In addition to the cash payment, and upon closing of the transaction, Odyssey will receive eight (8) million shares of Oragenics Convertible Preferred Class F stock. The preferred stock converts into Oragenics' common stock on a one-to-one basis.As other conditions are met, the transaction is expected to close before the end of the year.About Odyssey Health Inc. (formerly Odyssey Group International, Inc.)Odyssey Health Inc. (OTCQB: ODYY) is a medical company with a focus in the area of life-saving medical solutions. Odyssey's corporate mission is to create, acquire and develop distinct assets, intellectual property, and exceptional technologies that provide meaningful medical solutions. The company is focused on areas that have an identified technological advantage, provide superior clinical utility, and have a substantial market opportunity. For more information, visit the company's website at www.odysseyhealthinc.comWe encourage our shareholders to visit our corporate social media accounts for updates:https://twitter.com/OdysseyHealth1https://www.facebook.com/odysseyhealthinchttps://www.linkedin.com/company/odysseyhealthinchttps://www.youtube.com/channel/UCsS--v0od_fYIBu2tvqmj9QAbout Our Drug CandidateOur drug candidate is...