(TheNewswire)
Toronto, ON. - TheNewswire - January 22, 2021 – Otso Gold Corp. (“ Otso ” or the“ Company ”), (TSXV:OTSO) announces that it hasobtained a 30 day extension from the TSX Venture Exchange (the“ TSXV ”) to close its US$11 million private placement of units(the “ Financing ”) to Brunswick Gold Ltd (“ Brunswick Gold ”).The TSXV’s initial conditional approval granted to Otso on December21, 2020 required the Financing to close on or before January 28,2021. In order to allow for the clearance of various personalinformation forms (“ PIFs ”) filed by the Brunswick Goldprincipals in connection with Brunswick Gold becoming a new “ControlPerson” of the Company (as such term is defined in the policies ofthe TSXV), the TSXV has extended the outside date to complete theFinancing to February 22, 2021. Upon the clearance of such PIFs, theCompany intends to complete the Financing as expeditiously aspossible.
For furtherinformation, please contact:
Clyde Wesson
Vice President
1 917 287 0716
info@otsogold.com
www.otsogold.com
Forward-lookingStatements
This press release containsforward-looking statements regarding the Company based on currentexpectations and assumptions of management, which involve known andunknown risks and uncertainties associated with our business and theeconomic environment in which the business operates. All suchstatements are forward-looking statements under applicable Canadiansecurities legislation. Any statements contained herein that are notstatements of historical facts may be deemed to be forward-lookingstatements. By their nature, forward-looking statements require us tomake assumptions and are subject to inherent risks and uncertainties.We caution our readers of this press release not to place unduereliance on our forward-looking statements as a number of factorscould cause actual results or conditions to differ materially fromcurrent expectations. Please refer to the risks set forth in theCompany's continuous disclosure documents that can be found on SEDAR( www.sedar.com ) underthe Company’s issuer profile. The Company does not intend, anddisclaims any obligation, except as required by law, to update orrevise any forward-looking statements whether as a result of newinformation, future events or otherwise.
About the Company
Otso Gold Corp. wholly owns the Otso Gold Mine near thetown of Raahe in Finland. The Otso Gold Mine is developed, fullypermitted, has all infrastructure in place, two open pits and isprogressing towards production in 2021 to process ore at name platecapacity of 2 million tonnes per annum.
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.
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