LAS VEGAS, Dec. 20, 2010 (GLOBE NEWSWIRE) -- Oteegee Innovations Inc. (OTCBB:OTGI) wishes to confirm its new share structure due to investor inquiries. The Company currently has 30,390,000 common shares issued and outstanding. The 30.39 million common shares include the recently issued 15 million restricted common shares pursuant to the acquisition of the Abigail Lithium property, a further 2 million restricted common shares, and 2.375 million common shares held by insiders. The balance of approximately 11 million common shares comprises the public float.
The Company recently announced its acquisition of the Abigail Lithium Project located in the James Bay, Quebec region of Canada. It is covered by NTS sheets 320/12 and 320/13. The property is made up of 222 map-designated cells totaling 11,844 hectares. With the increase in demand for lithium batteries, the company believes it has entered a market with considerable growth opportunities. In addition, the Company is optimistic with the prospect of the Abigail acquisition.
Jordan Starkman, CEO of Oteegee Innovations, stated, "We are pleased with the increased interest in the Company, and we are looking forward to a new year of growth, development, and prosperity in 2011."
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Certain statements in this document that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Oteegee Innovations to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement to fund its current operational or expansion plans; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at under "Search for Company Filings.
CONTACT: Oteegee Innovations Inc. Jordan Starkman, CEO 1-800-854-7970 www.oteegeeinnovations.com www.tucanaexploration.com