$0.05 per FT Share for gross proceeds of up to $150,000; and (ii) 1,000,000 hard dollar units (“HD
For Immediate Release
Plato Gold Corp. Announces $200,000
Non-Brokered Private Placement
/ NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES /
Toronto, May 6, 2021 – Plato Gold Corp. (TSX-V: PGC; Frankfurt: 4Y7 or WKN: A0M2QX)
(“Plato” or the “ Company”) is pleased to announce that it intends to complete a non -brokered
private placement (the “Offering”) for gross proceeds of up to $200,000. Closing of the Offering
is expected to occur on or about Jun 11, 2021.
The Offering shall be composed of (i) 3,000,000 flow-through shares (“FT Shares”) at a price of
$0.05 per FT Share for gross proceeds of up to $150,000; and (ii) 1,000,000 hard dollar units (“HD
Units”) at a price of $0.05 per HD Unit for gross proceeds of up to $50,000 . Each HD Unit shall
be composed of one common share in the capital of the Company (“ Common Share”) and one
Common Share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase
one Common Share at a price of $0.07 per Common Share until the date which is twenty-four (24)
months following the closing date of the Offering, whereupon the Warrants will expire . Each FT
Share shall be composed of one Common Share issued on a flow-through basis within the meaning
of the Income Tax Act (Canada) (the “Tax Act”).
Completion of the Offering is subject to certain conditions including, but not limited to, the receipt
of all necessary approvals, including the approval of the TSX Venture Exchange (the “Exchange”)
and applicable securities regulatory authorities. The securities issued and issuable pursuant to the
Offering will be subject to a four month and one day statutory hold period. In connection with the
Offering, the Company may pay commissions to eligible persons in accordance with the policies
of the Exchange.
The proceeds raised from the sale of the FT Shares will be used to incur “Canadian exploration
expenses” that are “flow-through mining expenditures” (as such terms are defined in the Tax Act)
to pay for assay results on over 2,000 meters of drill core from the Company’s Good Hope Niobium
Project near Marathon, Ontario and to fund the Company’s other properties in Ontario, Canada .
The p roceeds raised from the sale of the HD Units will be used for general working capital
purposes and for exploration expenses on the Company’s properties.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended, (the “ U.S. Securities Act ”) or any state
securities laws and may not be offered or sold within the United States or to or for the account or
benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered
under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
About Plato Gold Corp.
Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange and
Frankfurt Exchange with projects in Timmins , Ontario, Marathon , Ontario and Santa Cruz,
Argentina.
The Timmins, Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in
the Harker/Holloway gold camp located east of Timmins, Ontario with a focus on gold.
In Argentina, Plato owns a 95% interest in Winnipeg Minerals S.A. (“WMSA”), an Argentina
incorporated company that holds a number of contiguous mineral rights totalling 9,672 hectares
with potential for gold and silver.
The Good Hope Niobium Project consists of approximately 5,146 hectares in Killala Lake Area
and Cairngorm Lake Area Townships, near Marathon, On tario with the primary target being
niobium.
The Pic River Platinum Group Metals (PGM) Project consists of 2,247 hectares in Foxtrap Lake
and Grain Township, near Marathon, Ontario of which 19 claims are contiguous to the western
boundary of Generation M ining’s Marathon PGM project and is located on strike to Generation
Mining’s Sally deposit.
For additional company information, please visit: www.platogold.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
For further information, please contact:
Anthony Cohen
President and CEO
Plato Gold Corp.
T: 416-968-0608
F: 416-968-3339
www.platogold.com
Forward Looking Statements
This news release contains “forward -looking statements”, within the meaning of applicable
securities laws. These statements include , but are not limited to, completion of the Offering,
statements regarding the potential mineralization and resources, exploration results,
concentrations of pay minerals may offset operating costs and future plans and objectives.
Forward-looking statements may be identified by such terms as “believes”, “anticipates”,
“expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward -looking
statements are based on assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although these statements are based on
information currently available to the Company, the Company provides no assurance that actual
results will meet management’s expectations. These forward-looking statements are subject to a
variety of risks and uncertainties and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking information. Risks that could change
or prevent these statements from coming to fruition include but are not limited to: changing costs
for mining and processing; increased capital costs; the timing and content of upcoming work
programs; geological interpretations based on drilling that may change with more detailed
information; potential process methods and mineral recoveries assumption based on limited test
work and by comparison to what are considered analogous deposits that with further test work
may not be comparable; testing of our process may not prove successful and ev en it tests are
successful, the economic and other outcomes may not be as expected; the availability of labour,
equipment and markets for the products produced; conditions changing such that the minerals on
our property cannot be economically mined, or that the required permits cannot be obtained; and
an inability to predict and counteract the effects of COVID -19 on the business of the Company,
including but not limited to the effects of COVID-19 on the price of commodities, capital market
conditions, restr ictions on labour and international travel and supply chains . Although
management of Plato has attempted to identify important factors that could cause actual results
to differ materially from those contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward -looking statements. The forward -looking information contained herein is
given as of the date hereof and the Company assumes no responsibility to update or revise such
information to reflect new events or circumstances, except as required by law.