Otish Energy Announces $500,000 Financing
22 Février 2011 - 9:11PM
Marketwired
Otish Energy Inc. (the "Company") (TSX VENTURE: OEI) announces that
it has arranged, subject to the acceptance of the TSX Venture
Exchange, a private placement totaling $500,000. These funds will
be raised by the Company issuing up to 2.5 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 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 of 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.smith@telus.net
Otish Energy Inc. (TSXV:OEI)
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