Otis Increases Private Placement
TSX: OOO OTC: OGLDF.PK
Vancouver, B.C. – Otis Gold Corp. (“Otis” or the “Company”) wishes to announce that is has increased the size of its previously announced $3,010,000 private placement up to $4,050,000, and will now issue up to 5,771,429 units at a price of $0.70 per unit. Each unit will consist of one common share and one half share purchase warrant (each whole such purchase warrant being a "Warrant"). Each Warrant will be exercisable to purchase one common share of the Company for 18 months, at a price of $1.10 per share.
The net proceeds from this private placement will be used for general working capital purposes. Commissions or finder's fees may be paid to qualified entities up to the rates allowed by the TSX Venture Exchange. The financing is subject to the approval of the TSX Venture Exchange.
It's all happened before and it will all happen again. Might as well profit from it.
