NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES
TORONTO, March 16, 2018 (GLOBE NEWSWIRE) -- 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 second 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”). The second tranche of the Offering consisted of the sale of 3,500,000 Units for
gross proceeds of $175,000 (the “Second Tranche”).
Each Unit consisted of one (1) common share in the capital stock of Plato (“Common Share”) and
one-half of a common share purchase warrant (a “Warrant”). 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 of the
First and Second Tranche respectively, 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.
In connection with the closing of the First Tranche, eligible institution finders have been paid finders fees of
$1,050 and in connection with the closing of the Second Tranche, eligible institution finders have been paid finders fees of
$11,090. In addition, the finder’s received 154,000 finder’s warrants (the “Finder’s Warrants”) equal to 7% of the
total number of Units sold pursuant to the Second Tranche. Each Finder’s Warrant is exercisable into one Unit at an exercise price
of $0.10 at any time prior to the date that is twenty-four (24) months following the closing date of the Second Tranche, whereupon
the Finder’s Warrants will expire.
The securities issued and issuable pursuant to the First Tranche and Second Tranche will be subject to a four
month and one day statutory hold period from the respective closing dates.
The Offering is subject to final acceptance of the TSX Venture Exchange. Following the completion of the Second
Tranche, 173,007,455 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 begin 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 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.
