Odyssey Resources announces C$100,000 private placement

Odyssey Resources Limited (NEX: ODX.H) announced a non-brokered private placement to raise approximately C$100,000 through the issuance of up to 987,654 common shares at C$0.10125 per share, subject to regulatory approval.

The Toronto-based company stated the proceeds will be used for general corporate and working capital purposes. The common shares issued will be subject to a four-month and one-day statutory hold period under Canadian securities laws.

Dundee Corporation, an insider of Odyssey Resources, is expected to acquire all common shares issued in the private placement, making it a related party transaction under Multilateral Instrument 61-101. The company will rely on exemptions from formal valuation and minority shareholder approval requirements since the transaction value does not exceed 25% of the company's market capitalization.

The information is based on a company press release statement issued February 4, 2026.

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