Otish Energy Announces Increase to Private Placement
2011年3月11日 - 11:15PM
Marketwired
Otish Energy Inc. (the "Company") (TSX VENTURE: OEI) - Steve Smith,
the President of the Company announces that due to increased
demand, the Company has agreed to increase the private placement
announced on February 22, 2011 from $500,000 to $638,500. These
funds will be raised by the Company issuing up to 3,167,500 million
units at a price of $0.20 per unit, each unit consisting of one
common share and one-half of one share purchase warrant. Each whole
warrant will entitle the holder, on exercise, to purchase one
common share for a period of one year, at a price of $0.25.
Finder's fees may be payable on a portion of the private
placement, in accordance with the policies of the TSX Venture
Exchange.
The private placement is subject to the approval of the TSX
Venture Exchange.
The net proceeds of the private placement will be used to
further exploration on the Company's properties and for working
capital purposes.
On Behalf of the Board, Otish Energy Inc.
Steve Smith, President
This news release may contain forward-looking statements based
on assumptions and judgments of management regarding future events
or results. Such statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements.
The Company disclaims any intention or obligation to revise or
update such statements.
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.
Contacts: Otish Energy Inc. Steve Smith President 604 642-0115
604 642-0116 (FAX) steve@otishenergyinc.com
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