Otis Gold Closes $650,000 Private Placement
June 19, 2015
Vancouver, B.C. – Otis Gold Corp. (“Otis” or “the Company”) is pleased to announce that it has closed the non-brokered private placement announced on May 20, 2015. In connection with this private placement, 13,000,000 units (“Units”) at a price of $0.05 per Unit have been issued for gross proceeds of $650,000. Each Unit consists of one common share (a “Share”) and one transferable common share purchase warrant (a “Warrant”). Each Warrant may be exercised by the holder to purchase an additional common share of the Company, at a price of $0.15 for a period of 24 months from closing. All funds are in Canadian dollars. All securities issued have a hold period expiring October 20, 2015. The Company’s President & CEO, Craig Lindsay, subscribed for 1,000,000 units.
The net proceeds from this private placement will be used for the continued advancement of the Kilgore Gold Project and for general working capital purposes.
About the Company
Otis is a resource company focused on the acquisition, exploration, and development of precious metal deposits in Idaho, USA. Otis is currently developing its flagship property, the Kilgore Gold Project, located in Clark County, Idaho.
ON BEHALF OF THE BOARD
“Craig T. Lindsay”
President & CEO
For additional information, please contact:
Tel: (604) 683-2507
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This News Release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any State securities laws, and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable State securities laws, or an exemption from such registration is available.