Odyssey Resources Announces Completion of Non-Brokered Private Placement

Executive Summary

• Odyssey Resources Limited closed a non‑brokered private placement, issuing 987,654 common shares at C$0.10125 per share for gross proceeds of approximately $100,000.
• The proceeds will be used for general corporate and working capital purposes.
• All shares were purchased by Dundee Corporation (an insider), making the transaction a “related party transaction” exempt from certain minority‑shareholder approval requirements under MI 61‑101.

Key Details

• Shares Issued: 987,654 common shares.
• Issue Price: C$0.10125 per share.
• Gross Proceeds: Approximately $100,000 (CAD).
• Use of Proceeds: General corporate and working capital purposes.
• Hold Period: Statutory four‑month‑and‑a‑day hold period expires on June 20 2026.
• Related Party Transaction: Dundee Corporation, an insider, purchased all shares; exemption relied upon because the transaction does not exceed 25% of market capitalization.
• Regulatory Exemptions: Relied on Sections 5.5(a) and 5.7(1)(a) of MI 61‑101 for valuation and minority‑shareholder approval exemptions.

Notable Quotes

“The proceeds of the Private Placement are expected to be used for general corporate and working capital purposes.” – Matthew Goodman, President and CEO

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This release is not an offer or solicitation in the United States.