Le Lézard
Classified in: Mining industry, Business
Subject: EARNINGS

Otis Reports Q3 Financial and Operating Results


VANCOUVER, British Columbia, May 21, 2019 (GLOBE NEWSWIRE) -- Otis Gold Corp. ("Otis" or the "Company") (TSX-V: OOO) (OTC: OGLDF) is pleased to provide a corporate update and report its financial results for the nine month period ending March 31, 2019.             

Selected Financial Data
The following selected financial data is derived from our unaudited condensed interim financial statements and related notes thereto (the "Interim Financial Statements") for the nine months ended March 31, 2019 as prepared in accordance with International Financial Reporting Standards ("IFRS"). The amounts reported herein are in Canadian dollars.

       
    Nine months ending March 31,
     2019  2018
       
 Total expenses $606,678 $1,230,050
 Operating loss  $606,678 $1,230,050
 Net loss   $1,037,867 $1,319,973
 Exploration expenditures$1,404,123 $4,191,076
 Cash generated from sale of non-core assets$1,848,065 $0
       
    As at March 31, As at June 30,
     2019  2018
       
 Cash  $771,007 $979,525
 Current liabilities $81,022 $203,130
 Non-current liabilities$0 $0
 Shareholders' equity $28,269,949 $29,286,118

 

A copy of the Company's financial statements has been filed on SEDAR at www.sedar.com and has been posted to the Otis website at www.otisgold.com

Recent Highlights

About the Company 
Otis is a resource company focused on the acquisition, exploration, and development of precious metal deposits in Idaho, USA. Otis is currently developing its flagship property, the Kilgore project, located in Clark County, Idaho and the Oakley project, located in Cassia County, Idaho.

ON BEHALF OF THE BOARD

"Craig T. Lindsay"

President & CEO

For additional information, please contact:

Mr. Tony Perri ? Corporate Development 
Tel:  (604) 424-8100  Email:  [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release does not constitute an offer to sell or a solicitation of an offer to sell any 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 "US Securities Act") or any State securities laws, and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable State securities laws, or an exemption from such registration is available.


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