/NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES/
VANCOUVER, March 4 /CNW/ - Otis Capital Corp. (the "Company") wishes to
announce it has closed its non-brokered private placement and has issued
2,200,000 common shares at a price of $0.25 per common share, for aggregate
gross proceeds of $550,000. The net proceeds from this private placement will
be used for general working capital purposes.
All common shares issued have a hold period expiring July 1, 2008.
ON BEHALF OF THE BOARD
"Craig T. Lindsay"
President & CEO
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISSAPROVED 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,