Otis Capital Closes Private Placement
March 4, 2008
VANCOUVER, B.C. - Otis Capital Corp. (the “Company”) wishes to announce it has closed its non-brokered private placement and has issued 2,200,000 common shares at a price of $0.25 per common share, for aggregate gross proceeds of $550,000. The net proceeds from this private placement will be used for general working capital purposes.
All common shares issued have a hold period expiring July 1, 2008.
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