Odyssey Gold (ODY) is set to raise up to $15 million through a placement and share purchase plan
Under the placement, the company will issue 79.8 million shares at 12.5 cents per share to institutional and sophisticated investors to raise $10 million
The issue price represents a 7 per cent discount to the last closing price of 13.5 cents on May 26
The other $5 million will be raised through a share purchase plan to give eligible shareholders the chance to subscribe for up to $30,000 worth of shares
The money will be used for drilling and exploration at the Tuckanarra and Stakewell gold projects in WA
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