Plato Gold Corp. Announces Extension of Non-Brokered Private Placement
Plato Gold Corp. Announces Extension of
Non-Brokered Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES
Toronto, Ontario – August 20, 2018 – Plato Gold Corp. (TSX-V: PGC) (“Plato” or the “Corporation”) announces that
it is extending the final closing date of its non -brokered private placement offering (the “ Offering”) previously
announced on July 11, 2018. The new final closing date, subject to the approval by the TSX Venture, will be on or
around September 7, 2018.
As announced on July 11, 2018, the Company intends to complete a non -brokered private placement of up to
5,454,545 common shares (a “ Share” or “Shares”) at a price of CAN$ 0.055 per Share, for gross proceeds of
approximately $300,000.
On August 8, 2018, the Company announced that it ha d completed the first tranche of the Offering, consisting of
5,855,454 Shares at a price of CAN$0.055 per Share for gross proceeds of $322,050. Plato increased the size of the
Offering due to demand and anticipates a further increase in the size of the Offering for the final closing.
The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period.
Plato intends to use the net proceeds from the Offering on exploration , assay results, and working capital for the
Good Hope Niobium Project and for general working capital purposes.
The participation in the Offering by Greg Wong and James Cohen are “related p arty transactions” as such term s
are defined by Multilateral Instrument 61 -101 (“ MI 61 -101“), requiring the Corporation, in the absence of
exemptions, to obtain a formal valuation for and minority shareholder approval of the “related party transactions”.
The Co rporation is relying on an exemption from the requirement to obtain formal valuation and minority
shareholder approval as the fair market value of the participation in the Offering by the Insiders does not exceed
25% of the market capitalization of the Corporation, as determined in accordance with MI 61-101.
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 and applicable securities regulatory authorities.
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. Secur ities 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 agreement
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 5 0% 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 information, please visit: www.platogold.com or 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, statements, 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 ant icipate”, or “believes”, or
variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “w ill 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 things, 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 econ omic conditions
and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other j udicial,
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.