Otis Gold Closes $2,298,860 Private Placement

Otis Gold Corp. (TSXV:OOO) has closed its previously announced non-brokered private placement (see news releases dated June 30, 2016, and July 13, 2016). In connection with this private placement, 13,522,709 common shares at a price of 17 cents per share will be issued for gross proceeds of $2,298,860. No warrants were issued in connection with this financing. Cash finders’ fees of $23,460 have been paid in connection with the transaction. All proceeds 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.
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