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Otis Gold takes full ownership of Blue Hill, Matrix

Wednesday, March 15, 2017 12:57
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(Before It's News)

Otis Gold Corp. (CVE:OOO) has reached an agreement to increase its interest in the Blue Hill Creek and Matrix Creek gold-silver properties located in Cassia county, Idaho, from 80% to 100%, the company said on Wednesday.

The company said its agreement also means it can reduce the existing net smelter royalty on these projects from 2.5% to 2%.

In consideration, 380,000 common shares of Otis will be issued to the vendors, and these shares will be subject to a voluntary hold period ending July 31.

The transaction results in Otis increasing its interest to 100 per cent in what is known as the Oakley project, a land package that comprises Blue Hill Creek, Matrix Creek and what is known as Cold Creek.

Story by ProactiveInvestors


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