Odin Completes $330,000 Loan - WDAM.COM - TV 7 - News, Weather and Sports

Odin Completes $330,000 Loan

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Vancouver, British Columbia: Odin Mining and Exploration Ltd. (“Odin”) is pleased to announce that it has borrowed an aggregate principal of $330,000 (the “Loans”) from seven lenders. The Loans bear interest at 4% until February 28, 2014 and then at 12% thereafter but interest and principal are not payable until June 30, 2014.

As partial consideration for the Loans and in accordance with the policies of the TSX Venture Exchange, Odin issued the lenders an aggregate of 1,320,000 bonus shares.

A material change report in connection with the transaction will be filed less than 21 days before the closing of the transaction. This shorter period is reasonable and necessary in the circumstances as Odin wished to complete the transaction in a timely manner.

On behalf of the Board,

(signed) “Stephen Stow”

Stephen W.C. Stow

President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source: http://www.accesswire.com/viewarticle.aspx?id=411141

ReleaseID: 31372