Plato Gold announces private placement

Plato Gold Corp., a Canadian junior gold exploration company listed on the TSX Venture Exchange, announce a proposed private placement to offer up to 6,000,000 flow-through units at a price of $0.10 per Flow-Through Unit for gross proceeds of up to $600,000 and 3,500,000 common share units at a price of $0.09 per Unit for gross proceeds of up to $315,000.

According to the company, each Flow-Through Unit shall consist of one common share which qualifies as a “flow through share” for purposes of the Income Tax Act (Canada) and one non-flow through common share purchase warrant.

Each Unit shall consist of one non-flow through common share and one non-flow through common share purchase warrant.

Each warrant partially comprising the Flow-Through Units and the Units shall be exercisable to acquire one non-flow through common share of the Company for a period of two years from the date of issuance thereof at an exercise price of $0.15 per share.

The warrant terms provide that if the Company’s shares close on the TSX Venture Exchange for 20 consecutive trading days at a price of $0.25 per share or higher during the exercise period, the Company may accelerate the expiry time of the warrants to 30 calendar days from the date upon which express written notice is provided by the Company to the holder thereof.

Mr. Anthony Cohen, President and CEO of Plato Gold, said that Plato Gold is pleased to continue our exploration work in the Val d’ Or region of Québec.

We are committed to our projects and are working to reach new milestones in our corporate growth, added Mr. Cohen.

Plato has Canadian exploration projects in Northern Ontario, Northern Québec and the Lolita Property in the province of Santa Cruz, Argentina.