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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 25, 2013) - Otis Gold Corp. ("Otis" or "the Company") (TSX VENTURE:OOO)(OTCQX:OGLDF) wishes to announce that it has closed the previously announced non-brokered private placement and has issued 6,300,000 units ("Units") at a price of $0.05 per Unit, for aggregate gross proceeds of $315,000. Each Unit consists of one common share and one non-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 $0.10 for 18-months from closing. All funds are in Canadian dollars. The net proceeds from this private placement will be used for general working capital purposes. Finder's fees of $4,050 have been paid in cash and 81,000 finders warrants have been issued to qualified parties. |
