Otis Capital Increases Private Placement
February 12, 2008
VANCOUVER, B.C. - Otis Capital Corp. (the “Company”) wishes to announce that is has increased the size of its previously announced $500,000 private placement to $550,000. The Company will now issue up to 2,200,000 common shares at a price of $0.25 per common share, for aggregate gross proceeds of up to $550,000. The net proceeds from this private placement will be used for general working capital purposes. No Finders Fees will be incurred in connection with this financing. All securities issued will be subject to a four-month hold period. The proposed financing is subject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD
“Craig T. Lindsay”
For additional information please contact:
Tel: 604.683.2507 Fax: 604.683.2506
# 350-409 Granville St., Vancouver, BC, V6C 1T2 T. 604.683.2507 F: 604.683.2506
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISSAPROVED OF THE CONTENTS HEREIN.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of 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 “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR DISSEMMINATION IN THE UNITED STATES