Gold and Silver Updates


Toronto, ON. – TheNewswire – January 20, 2021Otso Gold Corp. (“Otso” or the “Firm”), (TSXV:OTSO) is happy to announce that, additional to its press launch dated December 22, 2020, the Firm has acquired shareholder approval in respect of the non-public placement of items for mixture gross proceeds of US$11 million (the “Financing”) to Brunswick Gold Ltd (“Brunswick Gold”).

The Firm’s annual and particular shareholders assembly was held on January 20, 2021  whereat the Firm’s shareholders overwhelmingly voted to:

  • – elect Brian Wesson, Clyde Wesson, Yvette Harrison and Christopher Towsey as administrators; supplied nonetheless, if the Financing is accomplished (as anticipated), to elect Brian Wesson, Clyde Wesson, Yvette Harrison, Vladimir Lelekov, Nicolas Pascault, Victor Koshkin and Martin Smith as administrators. To this finish, on completion of the Financing, Mr. Christopher Towsey has agreed to tender his resignation as a director;

    – approve the re-appointment of PricewaterhouseCoopers LLP, Chartered Skilled Accountants as auditors of the Firm;

    – approve PFL Raahe Holdings LP and Brunswick Gold every turning into a brand new “Management Individual” beneath the foundations of the TSX Enterprise Trade upon the closing of the Financing; and

    – approve the Firm’s rolling inventory possibility plan.

The Financing is predicted to shut shortly because the the Firm is now solely awaiting the abnormal course TSX Enterprise Trade clearance of varied private info kinds (PIFs) in reference to Brunswick Gold turning into a brand new ‘management individual’.

As a correction to the Firm’s press launch dated December 22, 2020, the combination 284,944,440 items (for gross proceeds of US$11 million), with every unit comprised of 1 frequent share and one frequent share buy warrant, to be issued to Brunswick Gold will embrace 25,904,040 items to settle the US$1 million principal of an unsecured mortgage at the moment owed to an affiliate of Brunswick Gold; such mortgage to be assigned to Brunswick Gold at or instantly previous to completion of the Financing.

For additional info, please contact:

Clyde Wesson
Vice President
1 917 287 0716

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Ahead-looking Statements

This press launch comprises forward-looking statements relating to the Firm primarily based on present expectations and assumptions of administration, which contain identified and unknown dangers and uncertainties related to our enterprise and the financial setting by which the enterprise operates. All such statements are forward-looking statements beneath relevant Canadian securities laws. Any statements contained herein that aren’t statements of historic information could also be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are topic to inherent dangers and uncertainties. We warning our readers of this press launch to not place undue reliance on our forward-looking statements as quite a lot of elements might trigger precise outcomes or situations to vary materially from present expectations. Please consult with the dangers set forth within the Firm’s steady disclosure paperwork that may be discovered on SEDAR ( beneath the Firm’s issuer profile. The Firm doesn’t intend, and disclaims any obligation, besides as required by regulation, to replace or revise any forward-looking statements whether or not on account of new info, future occasions or in any other case.

Concerning the Firm

Otso Gold Corp. wholly owns the Otso Gold Mine close to the city of Raahe in Finland. The Otso Gold Mine is developed, absolutely permitted, has all infrastructure in place, two open pits and is progressing in direction of manufacturing in 2021 to course of ore at title plate capability of two million tonnes every year.

Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.


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