TORONTO, June 29 /CNW/ - Odyssey Resources (ODX-TSX-V) ("Odyssey" or "the Company") announced today two management changes that are effective June 30, 2007. Avrom Howard has resigned as Vice President, Exploration, but will remain a Director of the Company; and Hatem Kawar has resigned as CFO. Messrs. Howard and Kawar are long serving officers of Odyssey and their departures reflect their plans to pursue additional opportunities once the Company successfully reoriented itself with a strategic focus in Morocco.
George Mihaleto, Odyssey's CEO said, "As the founder of Odyssey, Avrom was instrumental in building the Company. We thank him for his enormous contributions and are pleased that the Company will continue to benefit from his knowledge by his continuing role as Director. We also thank Hatem for his effective financial stewardship over the years, which has helped the Company reach its current position of opportunity."
Odyssey further announced that Jacqueline Danforth has been named Interim CFO. Ms. Danforth is an executive manager with extensive experience in start-up operations and junior issuers. She is fully conversant with all aspects of early-stage businesses including preparation and development of business plans and corporate growth mandates; preparation of financial budgets, plans and statements, project management, preparation of reports and filings to ensure compliance with Canadian and United States securities regulations and general corporate governance. Since 1994 Ms. Danforth has gained a broad range of experience with publicly traded corporations listed on both Canadian and US exchanges including all aspects of public reporting, corporate finance and shareholder communications. She has served as Chief Financial officer on an interim basis for several junior issuers to ensure operative continuity.
The Company also expects to announce the appointment of senior members of the exploration team shortly.
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.
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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