Odyssey Resources provides a corporate update

LONGUEUIL, Québec, April 22, 2019 (GLOBE NEWSWIRE) -- Odyssey Resources Limited (the "Company") (TSXV: ODX.H) announces that it has filed its audited consolidated financial statements and management's discussion and analysis for the year ended December 31, 2018 on SEDAR (www.sedar.com).

The Company reports that it has amended the loan agreement with James Crombie, the Company's interim chairman, president and CEO (see news release of April 21, 2017). Mr. Crombie has agreed to increase the loan to the Company from C$300,000 to up to C$450,000, for its working capital. The amendment also provides that the loan and accrued interest will be repayable when the Company completes a financing of at least C$3,000,000 or upon demand at any time after October 31, 2019. The loan bears interest at the rate of 1% per month.

The Company also reports that it has further extended the maturity date of the US$250,000 loan to LAI Corp S.A.C. from April 30, 2019 to October 31, 2019. The Company and LAI are continuing discussions regarding the potential acquisition of a mineral project in Peru.

Finally, the Company announces that its annual meeting of shareholders will be held on June 11, 2019 with a record date of May 1, 2019.

Additional information about the Company is available on the Company's website (www.odysseyresources.com) and on SEDAR at www.sedar.ca. 

Cautionary Statement

This press release contains forward-looking information. In particular, this press release contains statements concerning the potential acquisition of a mineral projecs in Peru. The Company can give no assurance that such transaction will be completed.

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 Officer
Telephone: 450-677-1233
Email: [email protected]