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Otis Gold in warrants windfall

All of the warrants issued a year ago were exercised
The funds will go towards financing exploration and development

Otis Gold Corp (CVE:OOO) has received C$1.95mln from warrants being exercised, raising its cash balance to around C$5.2mln.

The debt-free company said the warrants that have been exercised were distributed as part of a private placement a year ago.

The funds received from the warrant exercise will be used for exploration and development at both the Kilgore project and the Oakley project and for general working capital purposes.

The company said it is fully financed for all planned exploration and development activities and corporate overhead for the next 12 months.

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