VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 28, 2017) – Otis Gold Corp. (“Otis” or the “Company”) (TSX VENTURE:OOO)(OTC PINK:OGLDF) is pleased to announce that it has closed the private placement previously announced on February 24, 2017 whereby Agnico Eagle Mines Limited (“Agnico”) has acquired by way of a private placement 14,420,000 common shares (“Common Shares”) of Otis at a price of $0.35 per Common Share for proceeds of $5,047,000 (the “Transaction”). As a result of this Transaction, Agnico now owns approximately 9.95% of the issued and outstanding Common Shares on a non-diluted basis. The proceeds from the Transaction shall be primarily used for exploration at Otis’ Kilgore Gold Project located in Clark County, Idaho and for working capital and general corporate purposes.
