Odyssey Group International Announces $10,250,000 Common Stock Purchase Agreement with Lincoln Park Capital Fund to Support its Long-Term Growth

Proceeds to Be Used to Ready Medical Devices for FDA 510k Submissions

IRVINE, CA / ACCESSWIRE / August 20, 2020 / Odyssey Group International, Inc. (OTCQB:ODYY) (the “Company” or “Odyssey”), a technology and asset acquisition company focused on developing unique, life-saving medical products, today announced that on August 14, 2020 it entered into a common stock purchase agreement and registration rights agreement (together, the “Agreements”) with Lincoln Park Capital Fund, LLC (“LPC”), a Chicago-based institutional investor. Upon entering into the Agreements, LPC made initial investment of $250,000.

Following the initial investment, and subject to the conditions of the Agreements, including that a registration statement is filed and declared effective with the Securities and Exchange Commission the Company has the right, in its sole discretion, to sell to LPC up to an additional $10,000,000 worth of shares over a 36-month period. The Company will control the timing and amount of any sales to LPC, and LPC is obligated to make purchase in accordance with the Agreements.

There are no upper limits to the price per share LPC may pay to purchase common stock and the purchase price of the shares will be based on the then prevailing market prices of the Company’s shares at the time of each sale to LPC. No warrants, derivatives, financial or business covenants are associated with the Agreements and LPC has agreed not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of shares of the Company’s common stock. The Agreements may be terminated by the Company at any time, at its sole discretion, without any cost or penalty.

Odyssey Chairman and Chief Executive Officer Michael Redmond, commented, “We are extremely happy to partner with Lincoln Park Capital. We are confident that the existing capital structure will support our short-term operational cash flow requirements while providing the flexibility to achieve our long-term growth targets. We look forward to furthering the development of both our Save A Life choking rescue device and CardioMap device with the ultimate goal of an FDA submission on each.”

A more detailed description of the Agreements is set forth in Odyssey’s Current Reports on Form 8-K as filed with the SEC.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor will there be any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction.

About Lincoln Park Capital Fund, LLC.

LPC is an institutional investor headquartered in Chicago, Illinois. LPC’s experienced professionals manage a portfolio of investments in public and private entities. These investments are in a wide range of companies and industries emphasizing life sciences, specialty financing, energy and technology. LPC’s investments range from multiyear financial commitments to fund growth to special situation financings to long-term strategic capital offering companies certainty, flexibility and consistency. For more information, visit www.lpcfunds.com.

About Odyssey Group International, Inc.

Odyssey Group International, Inc. (OTCQB: ODYY) is a technology and asset acquisition company with a focus in the area of life saving medical solutions. Odyssey’s corporate mission is to create, acquire and accumulate distinct assets, intellectual properties, and exceptional technologies that provide meaningful medical solutions The Company is focused on building and acquiring assets in areas that have an identified technological advantage, provide superior clinical utility, have a substantial market opportunity and provide solid returns to its valued shareholders and partners.

For more information, visit: http://www.odysseygi.com

Forward-Looking Statements

This news release may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions.

Media and Investors Contacts:

p619-832-2900
info@odysseygi.com

ClearThink
nyc@clearthink.capital

SOURCE: Odyssey Group International, Inc.

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