Plato Gold Corp. Increased Size of Non-Brokered Private Placement For the Second Tranche and Final Closing
Plato Gold Corp. Increased Size of Non-Brokered Private Placement
For the Second Tranche and Final Closing
NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES
Toronto, Ontario – September 6, 2018 – Plato Gold Corp. (TSX-V: PGC) (“Plato” or the “Corporation”) is pleased to
announce that further to its news release s dated July 11, 2018 and August 8, 2018 , it has completed the second
and final tranche of a non -brokered private placement (the “Offering”) of common shares (“Shares”) and has
increased the size of the Offering to 9,592,272 Shares at a price of CAN$0.05 5 per Share for gross proceeds of
$527,575.
As announced on August 8, 2018, t he first tranche of the Offering consisted of the sale of 5,855,454 Shares for
gross proceeds of $ 322,050 (the “First Tranche”). The Corporation increased the size of the Offering for the First
Tranche due to demand.
The second tranche of the Offering, closed on September 5, 2018, consisted of the sale of 3, 736,818 Shares for
gross proceeds of $ 205,525 (the “Second Tranche”). The Corporation increased the size of the Offering for the
Second Tranche due to continuing demand.
The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period.
The Corporation 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, James Cohen, and Anthony Cohen are “related party transactions”
as such terms are defined by Multilateral Instrument 61 -101 – Protection of Minority Security Holders in Special
Transactions (“MI 61-101“), requiring the Corporation, in the absence of exempt ions, to obtain a formal valuation
for and minority shareholder approval of the “related party transactions”. The Corporation 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. 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 claim s, 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 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 su ch 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. Forwa rd-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 prospect s,
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, env ironmental 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 secur ities 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 infor mation. Plato does not undertake to update any forward -looking information, except in
accordance with applicable securities laws.