Dufort Capital Inc., Now Odesia Group Inc.,Announces the Completion of its Qualifying Transaction with Odesia Solutions Inc.MONTREAL Montreal (mŏn'trēôl`), Fr. Montréal (môNrāäl`), city (1991 pop. 1,017,666), S Que., Canada, on Montreal island, surrounded by St. Lawrence River and Rivière des Prairies. -- Dufort Capital Inc. ("Dufort") is pleased to announce the completion of its qualifying transaction consisting in the acquisition of all issued and outstanding shares of ODESIA Solutions inc. ("ODESIA").The payment of all issued and outstanding shares held, directly or indirectly, by the shareholders of ODESIA has been made through the issuance of 16,000,000 common shares of Dufort at a deemed value of $0.375 per share, for a total purchase price of $6,000,000. Concurrently with the completion of the qualifying transaction, Dufort has changed his corporate name for Groupe Odesia inc. / Odesia Group Inc. ("Odesia Group"). The following persons are the directors and officers of Odesia Group: Nicolas Bonnafous, President, Chief Executive Officer and Director Jean-Pierre Dube, Executive Vice-President and Director Jacques Topping, Director Andre Malo, Director Jan Czech, Director Christian Dufour, Vice-President, Finance and Legal Affairs Odesia Group expects to obtain the final approval of the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. , with respect to the qualifying transaction, over the next few days.Common shares of Odesia Group should begin to be traded before the end of December December: see month. under the stock quote "ODS (Operational Data Store) A database designed for queries on transactional data. An ODS is often an interim or staging area for a data warehouse, but differs in that its contents are updated in the course of business, whereas a data warehouse contains static data. ". Concurrent Private Placement As previously announced, Odesia Group has completed a concurrent private placement through the issuance of units for a gross proceed of $1,004,000.Each Unit is composed of one common share and one common share purchase warrant entitling its holder the right to acquire one additional common share of Odesia Group at a price of $0.60 per share, no later than December 23, 2007. Canaccord Capital Corporation (the "Agent") has been retained to act as agent for the concurrent private placement. The Agent has been granted a commission equal to 8% of the gross proceeds of the concurrent private placement, a number of common share purchase warrants allowing the Agent to acquire a number of common shares equal to 8% of the total number of units of Odesia Group issued under the concurrent private placement and a corporate finance fee paid by the issuance of 75,000 common shares of Odesia Group. Stock Option Plan Consequently to the completion of the qualifying transaction, the stock option plan (the "Plan") of Odesia Group, which meets the requirements of the Policies of the TSX Venture Exchange, is now effective. The Plan authorizes the granting of a maximum of 2,677,330 options to purchase common shares to the directors, officers, employees, consultants and suppliers of Odesia Group. About Odesia ODESIA is a private Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. corporation based in Montreal, operating since 1998.Born from the original idea of four consultants specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in data warehousing See data warehouse. data warehousing - data warehouse and business intelligence, ODESIA has focused its efforts and operations, since its creation, in these promising markets.ODESIA is a unique service provider offering a vast range of business intelligence and data warehousing solutions for mid-size and large businesses.ODESIA has implemented business intelligence projects for over seven years and offers its clients technical expertise, staff placement and specialized softwares in business intelligence.For the financial year ended May 31, 2005, ODESIA has had revenues of $5,100,000 generated by fifty specialized consultants in the business intelligence field offering their services to mid-size and large businesses. Business intelligence is a query process and application of technologies to collect, stock, analyze and access corporate data of a business.This process enables its users to take better business decisions according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. all corporate data of their business.ODESIA provides its clients with the necessary know-how and required technical knowledge to create business intelligence applications. In order to do so, ODESIA relies on the talent of its consultants and its numerous achievements with its different customers. ODESIA works together with the management of its clients in order to provide strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. and performance analysis solutions, marketing campaigns optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. applications along with promotional efforts and it also contributes to the budgetary process and the setting-up of performance indicators.ODESIA also participates in the business development of its clients by assisting them with the regional attribution at·tri·bu·tion n. 1. The act of attributing, especially the act of establishing a particular person as the creator of a work of art. 2. of sales strengths and by establishing consumers' profiles. The TSX Venture Exchange Inc. has in no way passed upon merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange Inc. does not accept responsibility for t he adequacy or accuracy of this release. Dufort Capital Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:DUF DUF Dansk Ungdoms Fællesråd (Denmark) DUF Drug Use Forecasting DUF Daily Usage File DUF Discord Unit Frame DUF Durham Ultimate Frisbee (UK) DUF Design Up Front .P) |
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