Otis Gold Closes $1,410,000 Private Placement
July 10, 2015
Vancouver, B.C. – Otis Gold Corp. (“Otis” or “the Company”) is pleased to announce that it has closed its previously announced non-brokered private placement (see News Releases dated June 22 and June 25, 2015). In connection with this private placement, 28,200,000 common shares at a price of $0.05 per share have been issued for gross proceeds of $1,410,000. No warrants were issued in connection with this financing, and no finder’s fees or commissions were paid. All funds are in Canadian dollars. All securities issued pursuant to the private placement will be subject to a statutory four month hold period under applicable securities laws. 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
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.