Otis Announces Increase in Ownership Interest by Major Shareholder
VANCOUVER, British Columbia, April 29, 2019 (GLOBE NEWSWIRE) -- Otis Gold Corp. (“Otis” or the “Company”) (TSX-V: OOO) (OTC: OGLDF) is pleased to report that Mr. C. G. Lee-Barber, the principal of 2nd Half Limited, has acquired an additional 2.0 million shares of the Company in a private transaction. This purchase increases his ownership interest to 13.9% of the issued and outstanding shares of Otis. Mr. Lee-Barber stated: “My confidence level in Kilgore’s development potential was enhanced after reviewing the recent favourable metallurgical results. I also look forward to further work at the emerging Oakley Project.”
Craig Lindsay, Otis President & CEO, stated: “We are pleased to receive this support and consider it a strong endorsement of our business plan. We are very appreciative of our supportive group of shareholders despite a difficult precious metals market environment.”
About the Company
Otis is a resource company focused on the acquisition, exploration, and development of precious metal deposits in Idaho, USA. Otis is currently developing its flagship property, the Kilgore Project, located in Clark County, Idaho and the Oakley Project, located in Cassia County, Idaho.
ON BEHALF OF THE BOARD
“Craig T. Lindsay”
President & CEO
For additional information, please contact:
Mr. Tony Perri – Corporate Development
Tel: (604) 424-8100 Email: tony@otisgold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
