Canada’s Odyssey Resources has entered into an agreement with Pacific International Securities for a two million dollar financing. The funds raised will be used to advance exploration and development of Odyssey's projects in Turkey, stated a press release.
The offering comprises up to 6,700,000 units for gross proceeds of up to $2.01 million. Odyssey will pay the agent a work fee of $15,000 and a cash commission of seven percent of the gross proceeds raised, upon closing.
Last month, Odyssey reported that diamond drilling at the company's Altintepe Gold Project in Turkey uncovered an oxidized gold zone at Karakis ridge. Initial Karakis Zone drilling returned 2.2 grams of gold per metric ton. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
