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Mr. Eric Leboeuf Has Increased his Stake in ODESIA Group Inc. to 3,000,000 Common Shares(November 04, 2011)
MONTREAL, QUEBEC -- (Marketwire) -- 11/04/11 -- ODESIA Group Inc. ("ODESIA" or "the Company") (TSX VENTURE:ODS), an international corporation specializing in business-intelligence solutions ("BI"), decision-process management and analytics, was informed on November 2, 2011 that Mr. Eric Leboeuf acquired ownership of 209,500 common shares of ODESIA through the facilities of the TSX Venture Exchange, raising his position to 3,000,000 common shares of the Company, representing approximately 10.1 percent of the total issued and outstanding common shares of ODESIA. The required filing has been made in SEDI (System for Electronic Disclosure by Insiders) indicating that Mr. Leboeuf is now an Insider of Odesia.
This transaction was made for investment purposes and Mr. Leboeuf could increase or decrease his investment in ODESIA depending on market conditions or any other relevant factor.
Clarification on the amendments to ODESIA's convertible debentures
On November 1, 2011 ODESIA announced amendments to its convertible debentures issued in July 2008. ODESIA wishes to clarify that as long as the convertible debentures' new repayment schedules are respected, their conversion price shall not be lower than $0.40, as agreed in July 2008.
Furthermore, ODESIA is proud to announce that it is currently operating at an annual sales rate of approximately $11,000,000 with renewed profitability.
About ODESIA Group Inc.
ODESIA is an international corporation specialized in business-intelligence (BI) solutions, decision-process management and business analytics for large corporations. The Company provides customers with a complete solution, regardless of technical challenges involved. For more information visit us at www.odesia.com
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 the 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.
ODESIA Group Inc.
Mr. Nicolas Bonnafous, President and CEO
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