The proceeds of the Offering will be used exclusively for qualifying Canadian Exploration Expenditures (“CEE”) (as such term is defined in the Income Tax Act (Canada), in conducting an exploration and mineral resource evaluation program on the Silvertip Property in British Columbia to determine the existence, location, extent, and quality of the silver, lead, and zinc on the Silvertip Property.
Shawn Howarth, President and CEO, commented: “We continue to advance our proposed acquisition of La Negra, though recent market conditions have made the associated previously announced subscription receipts financing challenging.”
“I remain excited about Odyssey’s future as the company continues exploring the ocean for critical mineral resources in increasingly high demand. Odyssey is in a better position now to continue transitioning towards leadership in marine mineral exploration and investment,” said Mr. Jones.
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