Southern Cross Gold Consolidated Ltd. press release
Odin Mining and Exploration Ltd. Announces Private Placement of Shares
TSX - Toronto Stock Exchange · Australia
(via Thenewswire.ca)
Vancouver BC, July 11th, 2012 - Odin Mining and Exploration Ltd. (TSXV: ODN) ("Odin") is pleased to announce a non-brokered private placement (the "Offering") of up to 15,000,000 (fifteen million) shares at a price of C$0.10 per share to raise aggregate gross proceeds to Odin of up to C$1,500,000 (one million five hundred thousand dollars).
The securities issued under the Offering will be subject to a four month hold period under applicable Canadian securities laws. The Offering is subject to TSX regulatory approval. Gross proceeds from the Offering will be used by Odin to conduct work programs on the Company's properties in Ecuador in those areas known as Cangrejos and for general corporate and working capital purposes.
No finders fee is payable.
For further information please contact: Stephen Stow, President and CEO or Daniel Noone, Director, responsible for the exploration program, at 604-888-4505.
" Stephen W.C. Stow "
Stephen W.C. Stow
President
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.
This release may include certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements.
Actual results or developments may differ materially from those in forward-looking statements.
Odin Mining and Exploration Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
The securities offered have not been and will not be registered under the Securities Act of 1933, as amended (the "US Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the US Securities Act and applicable state securities law. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
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