/NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR DISSEMMINATION IN
THE UNITED STATES/
VANCOUVER, Jan. 25 /CNW/ - Otis Capital Corp. is pleased to announce a
non-brokered private placement of up to 2,000,000 common shares at a price of
$0.25 per common share, for aggregate gross proceeds of $500,000. The net
proceeds from this private placement will be used for general working capital
purposes. No Finders Fees will be incurred in connection with this financing.
All securities issued will be subject to a four-month hold period. The
proposed financing is subject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD
"Craig T. Lindsay"
President & CEO
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE
This news release does not constitute an offer to sell or a solicitation
of an offer to sell any of securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
For further information:
For further information: Tel: (604) 683-2507, Fax: (604) 683-2506,