NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES
TORONTO, Feb. 28, 2018 (GLOBE NEWSWIRE) -- 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 January 29, 2018. The new final closing date, subject to the
approval by the TSX Venture, will be on or around March 30, 2018.
The first tranche of the offering was closed on February 20, 2018 and consisted of the sale of 4,800,000 units
(“Unit”) for gross proceeds of CAN$240,000.
As announced on January 29, 2018, each Unit consists of one (1) common share in the capital stock of Plato
(“Common Share”) and one-half (1/2) of a common share purchase warrant (a “Warrant”) at a price
of CAN$0.05 per Unit. Each Warrant entitles 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 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 date 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.
The maximum Offering consists of 20,000,000 Units at a price of CAN$0.05 per Unit for gross proceeds of up to
CAN$1,000,000. Assuming completion of the maximum Offering, there will be 184,707,455 common shares of the Corporation issued and
outstanding.
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 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 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
info@platogold.com 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 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
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 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.
