otso energy solutions

Otso Obtains Conditional Approval from the TSX Venture Exchange to its Proposed Brunswick Gold Financing; Confirms January 20, 2021 as the Date for its Annual and Special Shareholders' Meeting

(TheNewswire)



Toronto, ON TheNewswire - Otso Gold Corp. (" Otso " or the " Company "), (TSXV:OTSO) is pleased to announce that, further to its press release dated December 14, 2020 in respect of the previously announced private placement of units for aggregate gross proceeds of US$11 million (the " Financing ") to Brunswick Gold Ltd (" Brunswick Gold "), the Company has now received TSX Venture Exchange (the " Exchange ") conditional approval to same.

The Company's annual and special shareholders meeting will be held on January 20, 2021 (the " Meeting ").  At such Meeting, the Company's shareholders  will be asked to confirm, among other things, Brunswick Gold becoming a new ‘Control person" under the rules of the Exchange upon the closing of the Brunswick Financing. The Company will file on SEDAR a management information circular (the " Circular ") which will describe the Brunswick Financing in greater detail.  Shareholders are urged to read the Circular.

In connection with the Financing, 25,904,040 common shares will be issued to settle the US$1 million outstanding balance of an unsecured loan currently owed to an affiliate of Brunswick Gold; such loan will be assigned to Brunswick Gold prior to completion of the Brunswick Financing.  In addition, 31,909,280 common shares will be issued to PFL Raahe Holdings LP (" Pandion ") pursuant to its "top-up" right to satisfy the outstanding balance of the US$1,231,826.21 contingent liability owing to Pandion.

For further information, please contact:

Clyde Wesson
Vice President
1 917 287 0716

info@otsogold.com
www.otsogold.com

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations andassumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution our readers of this press release not to place undue reliance on our forward-lookingstatements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's continuous disclosure documents that can be found on SEDAR ( www.sedar.com ) under the Company's issuer profile. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

About the Company

Otso Gold Corp. wholly owns the Otso Gold Mine near the town of Raahe in Finland. The Otso Gold Mine is developed, fully permitted, has all infrastructure in place, two open pits and is progressing towards production in 2021 to process ore at name plate capacity of 2 million tonnes per annum.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

42868227.5

Copyright (c) 2020 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
Otso Gold

Otso Gold

Emerging Mid-Tier Green Gold Producer

Emerging Mid-Tier Green Gold Producer Keep Reading...
Keep reading...Show less
Peruvian Metals Provides Corporate Update on Production, New Tailings Results and the Process to Re-Instate the OTCQB Listing

Peruvian Metals Provides Corporate Update on Production, New Tailings Results and the Process to Re-Instate the OTCQB Listing

Peruvian Metals Corp (TSXV: PER,OTC:DUVNF) (OTC Pink: DUVNF) ("Peruvian Metals" or the "Company") is pleased to provide a corporate update regarding 2026 production at the 80% owned Aguila Norte Processing Plant ("Plant"), new sample results from the tailings area and the reinstatement on the... Keep Reading...
Gold nuggets with text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: BPM Minerals Gains 111 Percent

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.This week's top five gainers includes companies focused on gold, antimony, lithium and more.Read on to discover this week's top gaining Australian mining stocks on the ASX and what drove their... Keep Reading...
Peter Schiff, gold bar.

Peter Schiff: Gold, Silver, Energy, Value Stocks — 2027 Opportunities

Peter Schiff, chief economist and global strategist at Euro Pacific Asset Management and founder of Schiff Gold, sees lower gold and silver prices as a buying opportunity.He believes part of the reason for their decline is that markets are overestimating the strength of the American economy, as... Keep Reading...
Chris Temple, gold bars.

Chris Temple: Gold Price Rout Not Over, Watch for This Green Light

Chris Temple, founder, editor and publisher of the National Investor, lays out what's weighing on the gold price right now and what would prompt a turnaround.In his view, the light will turn green for metals once the US Federal Reserve stops talking about fighting inflation, with gold's rebound... Keep Reading...
Omar ayales, gold bars.

Omar Ayales: 2 Gold Price Scenarios, Plus What I'm Buying Now

Is the gold price setting up for a 2012 scenario, or can it stage a rebound? Omar Ayales of Gold Charts R Us laid out two potential scenarios — one where gold sinks to US$3,000 per ounce, and one where it gets back to US$4,700. Don't forget to follow us @INN_Resource for real-time... Keep Reading...
Shiny gold bar rests on financial chart with fluctuating orange and blue lines.

Stored, Safe and Spendable: How Technology is Changing Gold Ownership

Gold has long been treated as a store of value, often leading to selling the metal to generate cash from it. Digital ownership and payment technology are reshaping that idea.Demand data from the World Gold Council (WGC) shows that investors continue to accumulate gold as a long-term holding.... Keep Reading...

Interactive Chart

Latest Press Releases

Related News