Golden Odyssey Mining Inc.
Pink Sheets : GODYF

Golden Odyssey Mining Inc.

November 16, 2007 19:06 ET

Golden Odyssey Mining Inc.: News Release

CALGARY, ALBERTA--(Marketwire - Nov. 16, 2007) -


Golden Odyssey Mining Inc. ("Golden Odyssey" or the "Corporation") (TSX VENTURE:GOE) (PINK SHEETS:GODYF) is pleased to announce that it has completed the second closing of its previously announced private placement (the "Private Placement"). The Corporation has issued a total of 1,761,070 units of the Corporation (the "Units") at a price of $0.17 per Unit for aggregate gross proceeds of $299,381.90. Each Unit consisted of one common share of the Corporation ("Common Share") and one-half of one share purchase warrant (the "Warrant"), with each whole Warrant entitling the holder to purchase one Common Share at a price of $0.22 per share for a period of one year from the closing date. The securities are subject to a four month hold period. In connection with this placement, Canaccord Capital Corporation and Haywood Securities Inc. were paid a cash commission.

Forward-looking Statements:

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. Golden Odyssey Mining Inc. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect the financial results is included in documents filed from time to time with Canadian securities regulatory authorities by Golden Odyssey Mining Inc.

Shares Outstanding: 36,141,499

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Golden Odyssey Mining Inc.
    Jeff Wilson
    (604) 837-5440