Pacific Opportunity Capital Ltd.

March 10, 2014 14:45 ET

Pacific Opportunity Increases Ownership of Otis Gold Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 10, 2014) - Pacific Opportunity Capital Ltd. (the "Acquiror") wishes to announce that between July 26, 2013 and March 7, 2014, the Acquiror acquired ownership and control a total of 2,545,000 common shares and 1,000,000 warrants of Otis Gold Corp. (the "Company") in the public market and in the October 2013 private placement, with prices range from $0.035 to $0.06 per share.

The 2,545,000 common shares and 1,000,000 warrants of the Company acquired by the Acquiror represent approximately 4.5% (basic) and 6.2% (partially diluted) of the issued and outstanding common shares of the Company. Following the acquisition, the Acquiror, along with Mr. Mark T. Brown, the president of the Acquiror, owns and controls 4,715,000 common shares, 2,000,000 warrants and 100,000 options of the Company, representing approximately 8.3% (basic) and 11.6% (partially diluted) of the issued and outstanding common shares of the Company.

The Acquiror acquired the common shares and warrants for investment purposes. The Acquiror has no present intention to acquire ownership of, or control over, additional securities of the Company, but may choose to acquire additional securities of the Company in the future for investment purposes.
This news release is being issued pursuant to Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by the Acquiror in connection with the acquisition of the Common Shares is available on the Company's SEDAR profile, and it can also be obtained directly from the Acquiror by contacting the Company at the number shown above.

Pacific Opportunity Capital Ltd.

Mark T. Brown, President

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.

Contact Information

  • Pacific Opportunity Capital Ltd.
    Mark T. Brown
    President
    (604) 687-3520