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Otis Gold to have chunky stake in Strata Minerals after selling non-core assets

The assets sold by Otis were known as the Hai and Goldbug projects
Gold bar on a dollar
Otis took the shares in lieu of cash

Otis Gold Corp (CVE:OOO) has disposed of several non-core assets to Strata Minerals Inc (CVE:SMP.H) in return for Strata shares.

Otis has sold several non-core mineral properties in Lehmi county, Idaho to Strata.

Otis, which did not own any Strata shares prior to this transaction, will be issued 2.75 million common shares of Strata at a deemed price of 25 cents per share, which means the assets were effectively sold for C$687,500.

Otis’s share stake is equivalent to about 11.14% of the issued share capital of Strata.

Otis is currently developing its flagship property, the Kilgore project, located in Clark county, Idaho.

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