Plate Resources Arranges $200,000 Loan
Vancouver, B.C. – June 12, 2014 - Plate Resources Inc. (TSXV: PLR) (the “Company” or “Plate”) is pleased to announce that it has obtained a demand loan in the amount of $200,000 (the “Loan”) from the Bank of Montreal. The Loan carries a rate of interest of prime + 1.5% per annum and is personally guaranteed by C. Harry Katevatis, President and a Director of the Company. Mr. Katevatis has also pledged his personal bank account as collateral for the Loan.
The Company has agreed, subject to TSX Venture Exchange approval, to grant Mr. Katevatis 100,000 bonus shares (the “Shares”) of the Company as consideration for providing his personal guarantee and account as collateral for the Loan.
The Company will use the proceeds of the Loan to pay oil well development expenses on its Cardium property in East Pembina, Alberta.
ABOUT PLATE RESOURCES:
The Company is a junior resource exploration company focused on acquiring mineral and oil and gas properties and exploring for economically viable mineral and petroleum resources. The Company’s Cardium property in Alberta adds to the Company’s existing business, to be developed along with the Company’s mineral property located in the Nicola Mining District of south-central British Columbia. For more information, please refer to the Company’s prospectus dated March 21, 2013 available on SEDAR (www.sedar.com).
For further information, please contact Julie Hajduk of Purple Crown Communications Corp. at (604) 609-6169, or visit www.plateresourcesinc.com. You may also contact Marc Melnic, CEO and Director at (403) 875-0505 or email [email protected]
ON BEHALF OF THE BOARD OF DIRECTORS
“Marc Melnic”
Marc Melnic, CEO and Director
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
ALL STATEMENTS, ANALYSIS AND OTHER INFORMATION CONTAINED IN THIS PRESS RELEASE ABOUT ANTICIPATED FUTURE EVENTS OR RESULTS CONSTITUTE FORWARD-LOOKING STATEMENTS. FORWARD- LOOKING STATEMENTS ARE OFTEN, BUT NOT ALWAYS, IDENTIFIED BY THE USE OF WORDS SUCH AS “SEEK”, “ANTICIPATE”, “BELIEVE”, “PLAN”, “ESTIMATE”, “EXPECT” AND “INTEND” AND STATEMENTS THAT AN EVENT OR RESULT “MAY”, “WILL”, “SHOULD”, “COULD” OR “MIGHT” OCCUR OR BE ACHIEVED AND OTHER SIMILAR EXPRESSIONS. FORWARD-LOOKING STATEMENTS ARE SUBJECT TO BUSINESS AND ECONOMIC RISKS AND UNCERTAINTIES AND OTHER FACTORS THAT COULD CAUSE ACTUAL RESULTS OF OPERATIONS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD- LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON ESTIMATES AND OPINIONS OF MANAGEMENT AT THE DATE THE STATEMENTS ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO UPDATE FORWARD-LOOKING STATEMENTS EVEN IF CIRCUMSTANCES OR MANAGEMENT’S ESTIMATES OR OPINIONS SHOULD CHANGE EXCEPT AS REQUIRED BY APPLICABLE LAWS. INVESTORS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS.