Plate Resources Inc. Increases Previously Announced Private Placement of Flow-Through Common Shares
February 20, 2014 - Plate Resources Inc. (TSXV: PLR) (the “Company” or “Plate”) announces that due to significant demand it intends to increase its previously announced non-brokered private placement (the “Placement”) of up to 3,000,000 flow-through common shares (“Shares”) at a price of $0.20 per Share, to offer up to a maximum of 5,500,000 Shares for total gross proceeds of up to $1,100,000, subject to TSX Venture Exchange approval. The Placement was initially announced by the Company on February 3, 2014, and all other terms of the Placement remain the same.
The proceeds of the Placement will be used to fund work on the Issuer's Cardium, Alberta property.
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 recently-announced Cardium property in Alberta adds to the Company’s existing business, to be developed alongside the Company’s existing 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, contact Harry Katevatis, President, Director and Chief Executive Officer, at (604) 642-6175 or visit www.plateresourcesinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“Charalambos (Harry) Katevatis”
Harry Katevatis, President, Director and Chief Executive Officer
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.