$0.05 per FT Share for gross proceeds of up to $200,000; and (ii) 2,000,000 hard dollar units (“HD
For Immediate Release
Plato Gold Corp. Announces $300,000
Non-Brokered Private Placement
/ NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES /
Toronto, May 25, 2022 – Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF) (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 $300,000. Closing of
the Offering is expected to occur on or about June 28, 2022.
The Offering shall be composed of (i) 4,000,000 flow-through shares (“FT Shares”) at a price of
$0.05 per FT Share for gross proceeds of up to $200,000; and (ii) 2,000,000 hard dollar units (“HD
Units”) at a price of $0.05 per HD Unit for gross proceeds of up to $100,000. 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”).
Eligible finders who introduce an investor to the Offering will be paid a cash commission of up to 8%
of the gross proceeds raised by the finders in respect of the sale of FT Shares and Units pursuant to
the Offering.
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 exploration work including soil and rock sampling, and assaying on Corporation’s Pic River
PGM Project near Marathon, Ontario and to fund the Corporation’s other properties in Ontario,
Canada. The proceeds raised from the sale of the Units will be used for general working capital
purposes and for exploration expenses on the Corporation’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 traded on the TSX Venture Exchange, OTC
Markets, 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 Ontario 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 Mining’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 even 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,
restrictions 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.