MONTRÉAL, QUÉBEC--(Marketwired - July 26, 2013) - ODESIA Group Inc. ("ODESIA" or the "Company") (TSX VENTURE:ODS), a Canadian information technology consulting and solutions company, specialized in Business Intelligence (BI), Business Process Management (BPM) and Big Data Analytics, announces it has made a gentlemen share for debt with Le Fonds de croissance Cap Diamant Inc. ("Cap Diamant").
Cap Diamant was the holder of a convertible debenture issued by the Company (the "Debenture") for which the balance due at its maturity date, July 21, 2013, is of $102,666.67 in capital and $3,157.66 in interest, representing a global amount of $105,824.33 (collectively, the "Debt").
The conversion price of the Debt into Common Shares will be the greater of: i) $0.061 per Common Share; and ii) the discounted price of the Common Shares on the trading day preceding this press release, subject to a minimum price of $0.05 per Common Share.
The share for debt is subject to the final approval by the TSX Venture Exchange and, if applicable, approval of other regulatory authorities. In addition, the Common Shares to be issued will be subject to mandatory hold period of four (4) months and one (1) day.
About ODESIA Group Inc.
Founded in 1998, ODESIA Group Inc. is a Canadian Information Technology (IT) consulting and solutions company headquartered in Montreal. ODESIA offers solutions in Business Intelligence, Business Process Management and Big Data Analytics. ODESIA's mission is to help its clients improve operations efficiency, enhance process performance and make better business decisions by mastering the right information at the right time and the right place. Website: www.odesia.com
ODESIA is listed on the Toronto Venture exchange under the symbol "ODS".
Disclaimer in regards to forward-looking statements
This press release contains forward-looking statements which reflect ODESIA's current expectations regarding future events and may involve risks or uncertainties. Actual results could differ materially from those projected herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.