Skip to main content

Odyssey Resources provides a corporate update

Written by Customer Service on . Posted in Public Companies.

LONGUEUIL, Québec, April 29, 2020 (GLOBE NEWSWIRE) — Odyssey Resources Limited (the “Company”) (TSXV: ODX.H) announces that it will not be filing its annual financial statements and accompanying management’s discussion and analysis and related CEO and CFO certificates for the financial year ended December 31, 2019 (the “Annual Filings”) by the scheduled due date of April 29, 2020 as required pursuant to National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”). The Company will also not be filing its financial statements for the three months ended March 31, 2020, and accompanying management’s discussion and analysis and related CEO and CFO certificates (the “Q1 Filings”) by the scheduled due date of June 1, 2020, as required by NI 51-102.
The Company expects to file the Annual Filings by no later than June 11, 2020, and the Q1 Filings by no later than July 10, 2020. Management and other insiders of the Company are subject to a trading blackout policy that reflects the principles National Policy 11-207 until its Annual Filings and Q1 Filings have been filed.This news release is being issued in accordance to the blanket relief of a 45-day extension provided by the Canadian Securities Administrators and Ontario Instrument 51-502 – Temporary Exemption from Certain Corporate Finance Requirements.Other than as disclosed herein by the Company, there have been no material business developments since the date of the Company’s most recent filing of its interim financial statements and management’s discussion and analysis.Loan AmendmentThe Company reports that it has amended the loan agreement with James Crombie, the Company’s interim chairman, president and CEO. Mr. Crombie has agreed to increase the loan to the Company from C$450,000 to up to C$500,000, for its working capital. The amendment also extends the date of repayment of the loan and accrued interest until the earliest of the date the Company completes a financing of at least C$3,000,000 or upon demand at any time after December 31, 2020. The other terms of the loan remain unchanged.AGMFinally, the Company announces that it is planning to hold its annual meeting of shareholders on July 29, 2020 with a record date of June 17, 2020.Additional information about the Company is available on the Company’s website (www.odysseyresources.com) and on SEDAR at www.sedar.com.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.ON BEHALF OF THE BOARD OF DIRECTORS:
James Crombie, Interim Chairman, President and Chief Executive Officer
Telephone: 450-677-1233
Email: info@odysseyresources.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.