The Prospector News

Otis Gold Closes $2,298,860 Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Otis Gold Closes $2,298,860 Private Placement






Otis Gold Corp. (TSX-V:OOO) (OTC PINK:OGLDF) is pleased to announce that it has closed its previously announced non-brokered private placement. In connection with this private placement, 13,522,709 common shares at a price of $0.17 per share will be issued for gross proceeds of $2,298,860. No warrants were issued in connection with this financing. Cash finder’s fees of $23,460 have been paid in connection with the transaction. 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.



One subscriber to the private placement will become a greater than 10% shareholder (a de facto Insider of the Company) and this will trigger a collateral statutory early warning disclosure requirement and announcement will be made by or on behalf of the affected subscriber as required.



The Company also advises that up to 2,000,000 stock options having an exercise price of $.18 per common share have been granted to various directors, officers and consultants of the Company. The options have been granted in accordance with the terms of the Company’s 10% rolling Stock Option Plan and the Policies of the TSX Venture Exchange.



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.


Posted August 2, 2016

Share this news article


Uranium Royalty Corp. Closes $30 million Initial Public Offering and Announces Listing on the TSX Venture Exchange

Uranium Royalty Corp. (TSX-V: URC) is pleased to announce that it... READ MORE

December 6, 2019

Denison Completes CAD$4.7 Million Bought Deal Private Placement of Flow-Through Shares

Denison Mines Corp. (DML: TSX) (DNN: NYSE American) is plea... READ MORE

December 6, 2019

Scorpio Gold Reports Results of Drilling at the Keystone-Jumbo Area, Goldwedge Property, Nevada

Scorpio Gold Corporation (TSX-V:SGN) announces results of its fir... READ MORE

December 6, 2019

Nevada Exploration Closes Oversubscribed Financing

Nevada Exploration Inc. (TSX-V: NGE) (OTCQB: NVDEF) is pleased to... READ MORE

December 6, 2019

Ascot Exploration Drilling Intersects 17.29 g/t Gold Over 3.58 Metres in New Area West of Premier Portal

Ascot Resources Ltd (TSX: AOT) (OTCQX: AOTVF) is pleased to annou... READ MORE

December 6, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions