LONGUEUIL, QUEBEC -- (Marketwired) -- 04/21/17 -- Odyssey Resources Limited (the "Company") (TSX VENTURE: ODX.H) announces that it has filed its audited consolidated financial statements and management's discussion and analysis for the year ended December 31, 2016 on SEDAR (www.sedar.com).
The Company reports that it has entered into a loan agreement with James Crombie, the Company's interim chairman, president and CEO, under which Mr. Crombie has agreed to lend to the Company up to Can$300,000 for its working capital, to be disbursed in several tranches when required by the Company. The loan will bear interest at the rate of 1% per month. The loan and accrued interest will be repayable when the Company completes a financing of at least Can$3,000,000 or upon demand at any time after June 30, 2018.
The Company also reports that it has extended the maturity date of the US$250,000 loan to LAI Corp S.A.C. from March 31, 2017 to September 30, 2017. The Company and LAI are continuing discussions regarding the potential acquisition of mineral projects in Peru.
Finally the Company announces that it has set May 12, 2017 as the record date for determining shareholders of the Company that are entitled to receive notice of the annual meeting of shareholders of the Company, expected to be held on June 20, 2017.
About Odyssey Resources Limited
Odyssey Resources is a Canadian-based mining exploration company. Currently, Odyssey does not have interest in any exploration property. Additional information about the Company is available on the Company's website (www.odysseyresources.com) and on SEDAR at www.sedar.ca.
This press release contains forward-looking information. In particular, this press release contains statements concerning the potential acquisition of mineral projects in Peru. The Company can give no assurance that such transaction will be completed.
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:
Interim Chairman, President and Chief Executive Officer