Otis Gold Increases Private Placement

 Otis Gold (TSXV:OOO) has increased its $1 million private placement to $1.4 million.

As quoted in the press release:

Otis Gold Corp. has increased its previously announced $1-million private placement (see news release dated June 22, 2015) to $1.4-million and will now issue up to 28 million common shares at a price of five cents per share. 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. No finders’ fees or other commissions will be paid in connection with this financing. All securities issued will be subject to a hold period of four months from closing. The proposed financing is subject to the approval of the TSX Venture Exchange.

The private placement was originally announced on June 22. Proceeds from the placement will be used to advance Otis’s Kilgore gold project and for general working capital purposes:

All funds are in Canadian dollars. 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. No Finders Fees or other commissions will be paid in connection with this financing. All securities issued will be subject to a hold period of four months from closing. The proposed financing is subject to the approval of the TSX Venture Exchange.

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