H-Power Agreement Cancelled
18 Mars 2010 - 6:07PM
Odyssey Oil & Energy, Inc. (OTCBB:OOGI) announces the
cancellation of the acquisition of 51% of H-Power International
(Pty) Ltd.
The cancellation was subject to certain conditions, which have
now been fulfilled. Odyssey will cancel the 65,000,000 issued for
the original acquisition and all monies advanced to H-Power will be
repaid to Odyssey. The first installment has been received.
"This allows Odyssey to pursue various GREEN projects which have
recently been presented to Odyssey," said Arthur Johnson,
President.
This release contains various forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which represent
the company's expectations or beliefs concerning future events of
the company's financial performance. These forward-looking
statements are further qualified by important factors that could
cause actual results to differ materially from those in the
forward-looking statements. These factors include the effect of
competitive pricing, the company's dependence on the ability of
third party manufacturers to produce components on a basis which is
cost-effective to the company, market acceptance of the company's
products and the effects of government regulation. Results actually
achieved may differ materially from expected results included in
these statements.
CONTACT: Odyssey Oil & Energy, Inc.
+27(11) 807-1446
www.odysseyoil.net
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