Deal sold 13,522,709 shares at C$0.17 to fund Kilgore Gold Project
By Devika Patel
Knoxville, Tenn., Aug. 2 – Otis Gold Corp. said it settled its C$2.3 million private placement of stock. The deal priced on June 30 and was increased to C$1.8 million from C$500,000on July 13.
The company sold 13,522,709 common shares at C$0.17 per share. The price per share represents a 30.77% premium to the June 29 closing share price of C$0.13.
Proceeds will be used for the continued advancement of the Kilgore Gold Project and for general working capital purposes.
The resource company is based in Vancouver, B.C.
| Issuer: | Otis Gold Corp.
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| Issue: | Common stock
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| Amount: | C$2,298,861
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| Shares: | 13,522,709
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| Price: | C$0.17
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| Warrants: | No
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| Pricing date: | June 30
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| Upsized: | July 13
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| Settlement date: | Aug. 2
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| Stock symbol: | TSX Venture: OOO
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| Stock price: | C$0.13 at close June 29
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| Market capitalization: | C$37.75 million
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