Existing Note Holder Agrees to Convert to Equity at $1.00 per Share
IRVINE, CA / ACCESSWIRE / June 9, 2020 / Odyssey Group International, Inc. (OTCQB:ODYY) (the "Company" or "Odyssey"), a technology and asset acquisition company focused on developing unique, life-saving medical products, is pleased to announce that Vivakor, Inc. and existing note holder, has agreed and executed documents to convert the balance of its convertible note in the amount of $805,953.68 into equity of Odyssey. The agreed upon conversion is a price of $1.00 per common share.
Vivakor's Chief Executive Officer, Matt Nicosia, stated, "We are pleased with the progress Odyssey has made to date in developing its promising life saving medical products and we have full confidence in the team built at Odyssey. They continue to work with their partners to ready products for FDA submission with an eye on commercialization and we believe in their long term commercial success. Our confidence in Odyssey's CEO Michael Redmond is demonstrated by our willingness to convert to equity now at a fixed price of $1.00 per common share."
Odyssey Chairman and Chief Executive Officer Michael Redmond, commented, "We appreciate the backing and investment Vivakor has made in Odyssey over the years and Matt's support in helping us get to this stage. Their conversion into equity at $1.00 per common share is significant, as it eliminates over $800,000 of debt and strengthens our balance sheet."
About Odyssey Group International, Inc.
Odyssey Group International, Inc. (OTCQB:ODYY) is a technology and asset acquisition company with a focus in the area of life saving medical solutions. Odyssey's corporate mission is to create, acquire and accumulate distinct assets, intellectual properties, and exceptional technologies that provide meaningful medical solutions The Company is focused on building and acquiring assets in areas that have an identified technological advantage, provide superior clinical utility, have a substantial market opportunity and provide solid returns to its valued shareholders and partners.
For more information, visit: http://www.odysseygi.com
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions.
Media and Investors Contacts:
619-832-2900
info@odysseygi.com
ClearThink
nyc@clearthink.capital
SOURCE: Odyssey Group International, Inc.
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