TORONTO, June 20 /CNW/ - Odyssey Resources (ODX-TSX-V) ("Odyssey" or "the Company") announced today that, as approved at the Company's Annual and Special Meeting of Shareholders (the "Meeting") held on June 13, 2007, it has appointed two new directors: George Mihaleto and Don Nicholson. Mssrs. Avrom E. Howard, Jonathan Goodman, Stephen Coates, Mohamed Mekouar, and David Shaw have all been re-elected to the Board of Directors.
Mr. Mihaleto has served as a consultant to various commodity-related enterprises and junior resource companies until his appointment as President and Chief Executive Officer of Odyssey in February 2007 and now to the Board. Mr. Nicholson joins the Board as an independent director. Mr. Nicholson has served as Executive Chairman, Pan Pacific Aggregates plc since 2004 and as a management consultant to various companies since 1990.
The Company also announced that shareholders approved the Company's option plan at the Meeting. The plan authorizes the Company to issue 1,500,000 share options at an exercise price of $0.12 per share, based on the closing price of Odyssey shares on June 12, 2007.
About Odyssey Resources
Odyssey Resources Limited is a Canadian-based junior mining company dedicated to becoming Morocco's preeminent metal mining company. Odyssey is developing the Alous copper-silver deposit in the heart of a large and under-explored copper-silver belt in Morocco, a country that hosts several world class mineral deposits. The Company is simultaneously pursuing additional opportunities across the country spanning several metal commodities including gold, silver, copper, lead, zinc and uranium.
Odyssey Resources Limited's 86.8 million shares trade on the TSX Venture Exchange under the symbol "ODX". As of the date of this release, shares of Odyssey Resources Limited have been trading at a 52 week high and low of $0.245 and $0.105, respectively. For more information, please refer to the Company's website www.odysseyresources.com
Forward-Looking Statements:
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
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