Odyssey Resources provides a corporate update
April 29 2020 - 3:30PM
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 Amendment
The 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.
AGM
Finally, 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 OfficerTelephone: 450-677-1233Email:
info@odysseyresources.com
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