Plato Gold Announces 1st Closing of Convertible Debenture totaling $250,000
For Immediate Release
Plato Gold Announces 1st Closing of
Convertible Debenture totaling $250,000
Toronto, June 15, 2017 – Plato Gold Corp. (TSX-V: PGC ) (“ Plato ” or the “Company”), an
exploration company with a portfolio of properties i n Northern Ontario and Santa Cruz,
Argentina is pleased to announce that it has closed the first tranche of its non-brokered private
placement of convertible debentures (the “Offering”) pr eviously announced on June 1, 2017.
Pursuant to the Offering, for the first closing, the Comp any issued convertible debentures for
gross proceeds totaling $250,000.
The convertible debentures carry interest at the rate of 10% per annum, payable annually. The
maturity date of the convertible debentures is 36 months f ollowing the date of issue of the
debentures. The convertible debentures are unsecured. The c onvertible debentures are
convertible at the holder's option at exercise price of $0.05 per common share in the first 12
months and $0.10 per common share thereafter until maturity. The Company may redeem all or
any portion of the convertible debentures at any time prior to or on the maturity date.
The proceeds from the sale of the convertible debentur es will be used by the Company for
exploration work on the Good Hope Niobium Project near Marathon Ontario and for general
working capital purposes.
The final closing of the offering is expected to be on or about June 22, 2017 or such other date or
dates as the Company may determine in its discretion. Cl osing of the offering is subject to
receipt of all required regulatory approvals, including fi nal approval of the TSX Venture
Exchange.
Assuming completion of the maximum offering, there will be 149,591,655 common shares of the
Company issued and outstanding if conversion in the first year and 146,591,655 common shares
of the Company issued and outstanding if conversion after the first year.
The convertible debentures and the underlying securities, as applicable, will be subject to a
statutory hold period of four months and one day from th e date of issuance, in accordance with
applicable securities legislation.
About Plato Gold Corp .
Plato Gold Corp. is a Canadian exploration company lis ted on the TSX Venture Exchange with
projects in Marathon Ontario, Timmins Ontario and Santa Cruz, Argentina.
The Good Hope Niobium Project consists of a total of 19 claims, 263 claim units and 4,208
hectares in Killala Lake Area and Cairngorm Lake Area Townships, near Marathon Ontario. In
May 2017, Plato signed an option agreement with Rudy Wahl and co-owners to acquire 100%
interest in the Good Hope Property. A drill program is planned for 2017.
The Timmins Ontario project includes 4 properties: Guib ord, Harker, Holloway and Marriott in
the Harker/Holloway gold camp located east of Timmins, O ntario. In November 2010, Plato
signed an agreement granting St Andrew Goldfields Ltd. the option to earn a 75% interest in the
above properties. On January 26, 2016, St. Andrew Goldfiel ds was acquired by Kirkland Lake
Gold Inc. The Holloway and Marriott options are now held by Kirkland Lake Gold Inc.
In July 2012, Plato sold a 50% interest in the Guibord prop erty to Victory Gold Mines Inc. who
amalgamated with Northern Gold Mining Inc. on February 6, 2013. On December 22, 2015,
Oban Mining Corporation completed the acquisition of Nor thern Gold Mining. In June 2016,
Oban changed its name to Osisko Mining Inc. (“Osisko”). Osisko now holds the 50% interest in
the Guibord property.
In February 2013, Plato sold an 80% interest in the Harker p roperty to Northern Gold Mining
Inc. and was subsequently acquired by Oban Mining Corporation on December 22, 2015. In
June 2016, Oban changed its name to Osisko Mining Inc. Osisko now holds the 80% interest in
the Harker property.
In Argentina, Plato owns a 75% interest in Winnipeg Minera ls S.A. (“WMSA”), an Argentina
incorporated company. The Lolita Property, held by WMSA , is comprised of a number of
contiguous mineral rights totaling 9,672 hectares. Work has a dvanced on this exploration
property to the point that it is drill-ready or ready to be optioned to a partner.
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, statements regarding the,potential mineralization and resources, exploration results, and future plans and objectives. Generally, these
forward-looking statements can be identified by the use of forward-looking terminology such as “plans” , “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “for ecasts”, “intends”, “anticipates” or “does not anti cipate”, or “believes”, or variations of
such words and phrases or state that certain action s, events or results “may”, “could”, “would”, “migh t” or “will be taken”, “occur” or “be
achieved”. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and
they are subject to known and unknown risks, uncert ainties and other factors that may cause the actual results, use of proceeds, level of activity,
performance or achievements of Plato to be material ly different from those expressed or implied by suc h forward-looking statements, including
but not limited to risks related to: risks related to exploration; actual resource viability, and othe r risks of the mining industry . Although
management of Plato has attempted to identify impor tant factors that could cause actual results to dif fer materially from those contained in
forward-looking statements, there may be other fact ors that cause results not to be as anticipated, es timated 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 Company does not undertake to update
any forward-looking statements that are incorporate d by reference herein, whether as a result of new i nformation, future events or otherwise,
except in accordance with applicable securities laws.