Otis Gold Closes $1.4 Million Private Placement

Otis Gold (TSXV:OOO) has closed its previously announced private placement for gross proceeds of roughly $1.4 million. Proceeds will be used to advance Otis’s Kilgore project and for general working capital.
As quoted in the press release:

Otis Gold Corp. (“Otis” or “the Company”) is pleased to announce that it has closed its previously announced non-brokered private placement (see News Releases dated June 22 and June 25, 2015).  In connection with this private placement, 28,200,000 common shares at a price of $0.05 per share have been issued for gross proceeds of $1,410,000.   No warrants were issued in connection with this financing, and no finder’s fees or commissions were paid.  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.

Click here to read the full press release.