ODS

ODESIA Group Inc. ("ODESIA" or the "Corporation") (TSX VENTURE:ODS), a Canadian
information technology consulting and solutions company, specialized in Business
Intelligence (BI), Business Process Management (BPM) and Big Data Analytics,
announces it has completed the renewal of its convertible debentures with two
institutional investors dealing at arm's length with the Corporation with the
issuance of new unsecured convertible debentures (the "Convertible Debentures"),
due November 1st, 2015, for a principal amount of $218,666.67 and $164,000.00
respectively, which represents an aggregate principal amount of $382,666.67 (the
"Private Placement").


The Convertible Debentures also include the method of payment of the balance of
the interests due on the previous debentures, in the amount of $10,383.42 and
$7,787.56 respectively. In addition, the principal amounts of the new
Convertible Debentures will bear interest at the annual rate of 10% payable in
cash by way of monthly instalments on the first day of each month. The
Corporation can at any time refund all or part of the Convertible Debentures
before their maturity without penalty.


The Convertible Debentures are convertible at the election of the holders in
units ("Units") each including one common share of the capital stock of the
Corporation ("Common Share"). The conversion price ("Conversion Price") per Unit
will be the greater between: (i) $0.075 per Common Share during the first year
following the issue date of the Convertible Debenture and $0.10 per Common Share
after the first year following the issue date of the Convertible Debenture until
the maturity of the Convertible Debenture; and (ii) the average trading price on
the TSX Venture Exchange ("Exchange") for the 30 trading days preceding the
receipt of the notice of conversion less the maximum discount allowed by the
Exchange. However, the Conversion Price cannot be lower than $0.075 per Unit
during the first year following the issue date of the Convertible Debenture and
$0.10 per Unit after the first year following the issue date of the Convertible
Debenture until the maturity of the Convertible Debenture and greater than
$0.15.


The issuance is subject to the final approval by the Exchange and, if
applicable, approval of other regulatory authorities. In addition, the
Convertible Debentures and Common Shares which might be issued will be subject
to mandatory hold period of four (4) months and one (1) day.


About ODESIA Group Inc. 

Founded in 1998, ODESIA Group Inc. is a Canadian Information Technology (IT)
consulting and solutions company headquartered in Montreal. ODESIA offers
solutions in Business Intelligence, Business Process Management and Big Data
Analytics. ODESIA's mission is to help its clients improve operations
efficiency, enhance process performance and make better business decisions by
mastering the right information at the right time and the right place. Website:
www.odesia.com 


ODESIA is listed on the Toronto Venture exchange under the symbol "ODS". 

Disclaimer in regards to forward-looking statements 

This press release contains forward-looking statements which reflect ODESIA's
current expectations regarding future events and may involve risks or
uncertainties. Actual results could differ materially from those projected
herein. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
ODESIA Group Inc.
Mr. Nicolas Bonnafous, President and CEO
514.876.1155
nbonnafous@odesia.com

Odesia Group Inc. (TSXV:ODS)
Historical Stock Chart
From Jun 2024 to Jul 2024

Odesia Group Inc. (TSXV:ODS)
Historical Stock Chart
From Jul 2023 to Jul 2024