Otish Changing Name to Arrowhead Gold Corp and Announces Private Placement
06 August 2011 - 6:41AM
Marketwired
Otish Energy Inc. (the "Company") (TSX VENTURE: OEI) is pleased to
announce the special resolution relating to the change of name from
Otish Energy Inc to Arrowhead Gold Corp, has been approved at the
annual and special meeting of shareholders held in Toronto on July
28th, 2011.
Other business transacted at the annual and special meeting
included: the re-election of Steve Smith, Zachery Dingsdale, Ick
Boga, Mark Fekete and Albert Timcke as directors; the appointment
of BDO Canada LLP as auditor of the company; and the approval of
the company's rolling stock option plan.
The Company has arranged, subject to the acceptance of the TSX
Venture Exchange, a private placement totalling $490,000. These
finances will be raised by the company issuing up to 3.5 million
units at a price of 14 cents 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 25 cents.
Finders' 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
drill the company's wholly owned Puruni Gold project in Guyana, SA
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@otishenergyinc.com
www.otishenergyinc.com
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