This is a very good move for the board, for shareholders and for myself
Plano, TX (Vocus) July 15, 2010
Odyssey Pictures Corporation (OPIX: OTCQB) (Odyssey), a media/marketing company, announces that the Board of Directors has appointed Stefan Drakelid to the position of Vice Chairman of the Board, effective June 15, 2010.
Mr. Drakelid’s efforts, in conjunction with Odyssey’s Chairman/President/CEO John Foster, are to assist in implementing a broad range of new initiatives relevant to the company's four main divisions: Odyssey Entertainment, Odyssey Brand Marketing Services, Odyssey Digital and Odyssey Growth Capital. As an Odyssey board member since 2007, Drakelid will continue to use his considerable experience in global finance to research potential business opportunities for the company. Mr. Drakelid was also the founder of Siguiente Capital, a Swedish venture capital firm that has an ongoing strategic relationship with Odyssey.
“I am honored and excited to be playing more of a leadership role on Odyssey’s board,” said Drakelid. “John Foster has done an amazing job restoring the company to viability and profits. I will do all I can to support him in this ongoing effort.”
"This is a very good move for the board, for shareholders and for myself,” remarked Foster. “Stefan’s extensive background in acquisitions and finance bring tremendous value to the company and its agenda of diversity and growth.”
About Odyssey Pictures Corporation - Although initially an entertainment company that focused on the financing and distribution of motion pictures, Odyssey has adapted over the past two years to become a diversified media/marketing services company. The Company’s business now encompasses branding & marketing services, content distribution, IPTV digital delivery technologies, and corporate finance.
Forward-Looking Statements - Certain statements contained herein are forward looking. These forward-looking statements are based on our current expectations and are subject to a number of risks, uncertainties and assumptions. Many factors could cause actual results to differ significantly from these statements, including our history of operating losses, our need for additional financing, a failure of our products to perform as expected, introduction of competing products by other companies, pressures on prices from competitors and/or customers, regulatory obstacles to new product introductions, lack of acceptance of our products and technology changes. These risks, uncertainties and assumptions are detailed in documents filed by us with the Securities and Exchange Commission. The Company cautions that the foregoing list of important factors is not exclusive. Any forward-looking statements are made as of the date of the document in which they appear. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.
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