Plato Gold Corp. Announces Closing of First Tranche of Non-Brokered Private Placement
Plato Gold Corp. Announces Closing of First Tranche of
Non-Brokered Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES
Toronto, Ontario – February 20, 2018 – Plato Gold Corp. (TSX-V: PGC) (“Plato” or the “ Corporation”) is pleased to
announce that further to its news release dated January 29, 2018, it has completed the first tranche of a non -
brokered private placement of units (“ Units”) at a price of CAN$ 0.05 per Unit (the “Offering”). The first tranche of
the Offering consisted of the sale of 4,800,000 Units for gross proceeds of $240,000 (the “First Tranche”).
Each Unit consist ed of one (1) common sh are in the capital stock of Plato ( “Common Share ”) and one -half of a
common share purchase warrant (a “Warrant”). Each Warrant entitle s the holder to purchase one common share
at a price of CAN$0.10 per common share until the date which is twenty-four (24) months following the closing date
of the First Tranche, whereupon the Warrants will expire. If the weighted average trading price of the Corporation’s
common shares on the Corporation’s principal stock exchange closes at a minimum of $0.10 per share for a period
of five (5) consecutive trading days, the Corporation may accelerate the expiry dat e of the Warrants to the date
which is 30 days following the date upon which notice of the accelerated expiry date is provided by the Corporation
to the holders of the Warrants.
In connection with the closing of the First Tranche, eligible institution finders have been paid finders fees of $1,050.
The securities issued and issuable pursuant to the First Tranche will be subject to a four month and one day statutory
hold period.
The Offering i s subject to final acceptance of the TSX Venture Exchange. Following the completion of the First
Tranche, 169,507,455 common shares will be issued and outstanding. The Corporation intends to issue additional
Units in subsequent tranches as part of the Offering, up to the maximum amount announced in its previous press
release.
The Corporation intends to use the net proceeds from the Offering first on a 5,000 metre drill program on the Good
Hope Niobium Project which has been contracted to being on March 9, 2018 and next on exploration work and for
general working capital purposes.
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 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 agree ment
with Rudy Wahl and co-owners to acquire 100% interest in the Good Hope Property.
The Timmins Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in the Harker/Holloway
gold camp located east of Timmins, Ontario. Plato holds 50% interest in the Guibord property with the remaining
50% held by Osisko Mining Inc. (“Osisko”). Osisko also holds 80% interest in the Harker property with Plato holding
the remaining 20%.
In Argentina, Plato owns a 75% interest in Winnipeg Minerals 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 advanced 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.
For further information, please contact:
Anthony Cohen
President and CEO Plato Gold Corp.
T: 416-968-0608
F: 416-968-3339
[email protected] www.platogold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFORMATION: This news release includes certain "forward- looking information"
within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, state ments, projections
and estimates with respect to the Offering, the potential mineralization and resources, exploration results, and future plans and objectives .
Generally, forward-looking information can be identified by the use of forward- looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or
variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”
or “be achieved”. Such information is based on information currently available to Plato and Plato provides no assurance that actual results will
meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the
actual results, level of activity, performance, or achievements of Plato to be materially different from those expressed or implied by such forward-
looking information. Actual results relating to, among other thi ngs, approval and completion of the Offering , results of exploration, project
development, reclamation and capital costs of Plato ’s mineral properties, and Plato ’s financial condition and prospects, could differ materially
from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered in connection with Plato ’s activities; and other matters
discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Plato’s
forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on
forward-looking information. Plato does not undertake to update any forward-looking information, except in accordance with applicable securities
laws.