Business
Odyssey Announces Shareholder Approval of Continuance and Consolidation
TORONTO, April 25 /CNW/ - Odyssey Resources Limited (TSX-V: ODX) ("Odyssey" or the "Company") is ...
About this update from Odyssey Resources Limited
[{"type":"text","content":"\n\n\n\nTORONTO, April 25 /CNW/ - Odyssey Resources Limited (TSX-V: ODX)\n("Odyssey" or the "Company") is pleased to announce that Odyssey's\nshareholders have approved a continuance of the Company from Barbados to\nOntario and a share consolidation at the special meeting of shareholders held\nthis morning. The consolidation approved by the shareholders is on a\none-for-ten basis such that ten common shares will become one\npost-consolidation common share.\n\n\nOdyssey is requesting a consent to the continuance from the applicable\nauthority in Barbados and, once received, expects to promptly file articles of\ncontinuance and articles of amendment in Ontario to effect the continuance and\nconsolidation. The Company plans to issue a further press release once the\ndate of the continuance and consolidation are known and Odyssey will advise as\nto when its common shares are anticipated to start trading on the TSX Venture\nExchange on a consolidated basis. At that time, the Company will mail to its\nregistered shareholders a letter of transmittal relating to the continuance\nand consolidation.\n\n\nThere are currently approximately 86.8 million Odyssey common shares\noutstanding. If effected, the consolidation will reduce the number of common\nshares outstanding to approximately 8.68 million.\n\n\nAbout Odyssey Resources\n\n\nOdyssey Resources Limited is a Canadian-based junior exploration company\nwhose main focus has been in Morocco. Odyssey's 86.8 million shares trade on\nthe TSX Venture Exchange under the symbol "ODX".\n\n\nForward-Looking Statements\n\n\nThe above contains forward-looking statements that are subject to a\nnumber of known and unknown risks, uncertainties and other factors that may\ncause actual results to differ materially from those anticipated in our\nforward-looking statements. Although we believe the expectations reflected in\nour forward-looking statements are reasonable, results may vary, and we cannot\nguarantee future results. There is no assurance that the continuance and\nconsolidation will be completed. In addition, there is a possibility that the\nshare price of the common shares will decline as a result of the\nconsolidation.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this news release.\n\n\n","length":2395,"tagName...