ODS

ODESIA Group Inc. ("ODESIA" or "the Company") (TSX VENTURE:ODS), an
international corporation specialized in delivering business-intelligence
solutions ("BI"), decision-process management and business analytics, announces
the nomination of Mr. Andre P. Brosseau as a Director of the Company. This
nomination follows the resignation and departure of Mr. Timothy Murdoch, who has
completed a two-year board assignment with ODESIA.


"We've valued greatly Mr. Murdoch's support, insight and guidance as a member of
our Board of Directors since November 2009. We thank him for agreeing to serve
on ODESIA's board, and we wish him continued success" declared Nicolas
Bonnafous, President and Chief Executive Officer of ODESIA. 


"I'm pleased to have completed a two-year commitment as a director for ODESIA. I
really enjoyed being part of a dynamic board that helped to re-stabilize the
Company during challenging times. Today, ODESIA is poised to return to
profitability with strong leadership, enthusiastic new investors and talented
staff. The Company is on better footing than when I joined the board and likely
headed for greater success in 2012 and beyond" declared Tim Murdoch. 


 "ODESIA is proud to welcome Mr. Brosseau to its board of directors. His rich
experience and blue-chip reputation should help ODESIA deliver on its strategic
plan and optimize the Company's value" indicated Mr. Bonnafous.


Mr. Brosseau is a Director of Midas Medici Inc., a holding company specializing
in acquiring and merging IT related companies with operations in New York, North
Caroli na, Europe and Brazil. He is also on the Board of CIMCORP, wholly owned
by Midas Medici, an IT company based in Sao Paulo Brazil. Mr. Brosseau is a
Director of Aptilon Inc., a web-based business solution company specializing in
the US healthcare sector. He also serves as the Co-Chair of The Company Theatre,
a not-for-profit organization located in Toronto, and member of the steering
committee of Notman House. Mr. Brosseau holds a Bachelor's Degree (BA) in
Science (Political and Economics) and a Master's Degree in Science (Political)
from the Universite de Montreal.


Mr. Brosseau was President of Blackmont Capital in Toronto until June 2009 and
Chairman of Quebec Capital Markets until May 2010. For 12 years Mr. Brosseau was
with CIBC in different capacities mostly based in Toronto, most recently as
Managing Director, Head of Cash Equities and Co-Head of Global Cash Equities at
CIBC World Markets where he was involved in some of the most important capital
market transactions in Canada.


The nomination of Mr. Brosseau remains subject to applicable regulatory
requirements.


ODESIA brings changes to its directors' compensation plan and proceed with
Shares for Debts


Following the recent fluctuations in the trading price of the Company's shares
on the TSX Venture Exchange and with the desire to fulfill their fiduciary duty
to act in the best interest of the Company, the directors have decided to
abolish the deferred stock unit plan for its external directors. 


Consequently, subject to the approval of the shareholders, the TSX Venture
Exchange and other regulatory authorities, in exchange for the 304,681 units Mr.
Timothy Murdoch has earned, he will receive $39,608.53 in cash. In exchange for
the 304,681 units Mr. Michael Perrault has earned, he will receive 240,051
shares of ODESIA at a deemed price of $0.165 per share. In exchange for the
267,371 units Mr. Richard Batty has earned, he will receive $17,379.12 in cash,
and 105,328 shares of ODESIA at a deemed price of $0.165 per share. Mr. Perrault
and Mr. Batty are directors of ODESIA. Mr. Murdoch recently resigned from
ODESIA's Board of directors.


For their services between now and the next annual general meeting of ODESIA's
shareholders, the external directors of the Company received 75,000 stock
options of ODESIA, at the exercise price of $0.30 each, having an exercise
period of five (5) years and vesting in three (3) equal and consecutive annual
tranches.


About ODESIA Group Inc. 

ODESIA is an international corporation specialized in business-intelligence (BI)
solutions, decision-process management and business analytics for large and
medium-sized companies. 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.

Odesia Group Inc. (TSXV:ODS)
Historical Stock Chart
From Jun 2024 to Jul 2024

Odesia Group Inc. (TSXV:ODS)
Historical Stock Chart
From Jul 2023 to Jul 2024