TORONTO, June 29 /CNW/ - Odyssey Resources (ODX-TSX-V) ("Odyssey" or "the
Company") announced today two management changes that are effective June 30,
2007. Avrom Howard has resigned as Vice President, Exploration, but will
remain a Director of the Company; and Hatem Kawar has resigned as CFO. Messrs.
Howard and Kawar are long serving officers of Odyssey and their departures
reflect their plans to pursue additional opportunities once the Company
successfully reoriented itself with a strategic focus in Morocco.
George Mihaleto, Odyssey's CEO said, "As the founder of Odyssey, Avrom
was instrumental in building the Company. We thank him for his enormous
contributions and are pleased that the Company will continue to benefit from
his knowledge by his continuing role as Director. We also thank Hatem for his
effective financial stewardship over the years, which has helped the Company
reach its current position of opportunity."
Odyssey further announced that Jacqueline Danforth has been named Interim
CFO. Ms. Danforth is an executive manager with extensive experience in
start-up operations and junior issuers. She is fully conversant with all
aspects of early-stage businesses including preparation and development of
business plans and corporate growth mandates; preparation of financial
budgets, plans and statements, project management, preparation of reports and
filings to ensure compliance with Canadian and United States securities
regulations and general corporate governance. Since 1994 Ms. Danforth has
gained a broad range of experience with publicly traded corporations listed on
both Canadian and US exchanges including all aspects of public reporting,
corporate finance and shareholder communications. She has served as Chief
Financial officer on an interim basis for several junior issuers to ensure
The Company also expects to announce the appointment of senior members of
the exploration team shortly.
About Odyssey Resources
Odyssey Resources Limited is a Canadian-based junior mining company
dedicated to becoming Morocco's preeminent metal mining company. Odyssey is
developing the Alous copper-silver deposit in the heart of a large and
under-explored copper-silver belt in Morocco, a country that hosts several
world class mineral deposits. The Company is simultaneously pursuing
additional opportunities across the country spanning several metal commodities
including gold, silver, copper, lead, zinc and uranium.
Odyssey Resources Limited's 86.8 million shares trade on the TSX Venture
Exchange under the symbol "ODX". As of the date of this release, shares of
Odyssey Resources Limited have been trading at a 52 week high and low of
$0.245 and $0.105, respectively.
The statements made in this Press Release may contain forward-looking
statements that may involve a number of risks and uncertainties. Actual events
or results could differ materially from the Company's expectations and
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
For further information:
For further information: please refer to the Company's website
www.odysseyresources.com or contact: George Mihaleto, Chief Executive Officer,
Odyssey Resources Limited, Tel: (416) 362-6955, or (905) 480-9106, 90 Allstate
Parkway, Suite 603, Markham, Ontario, L3R 6H3; OR Investor Relations, Andreas
Curkovic, The Equicom Group, (416) 815-0700 x262, email@example.com,