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A junior Canadian exploration company that is focused on prospective properties in recognized gold mining districts around the world.
Message: Announces Closing of Private Placement for $100,000
| June 2, 2009 |
| Plato Gold Announces Closing of Private Placement for $100,000 |
| TORONTO, ONTARIO--(Marketwire - June 2, 2009) - NOT FOR DISTRIBUTION IN THE UNITED STATES. Plato Gold Corp. (TSX VENTURE:PGC) ("Plato" or the "Company") an exploration company with a portfolio of properties in significant gold mining camps in Northern Ontario, Northern Quebec, and Santa Cruz, Argentina announced today the completion, on June 1, 2009, of the closing of its non-brokered private placement offering (the "Offering") previously announced on May 7, 2009. Pursuant to the Offering, the Company issued 3,333,333 common shares (the "Common Shares") at a price of $0.03 per common share for gross proceeds of $99,999.99. The proceeds from the sale of the Common Shares will be used by the Company for on going exploration work on its properties in the Val d'Or area in Quebec, the Santa Cruz region in Argentina and the Timmins area in Ontario, as well as for general corporate use. Upon closing, there are 68,138,449 common shares of the Company issued and outstanding (98,711,692 common shares on a fully diluted basis). Final approval of the Offering is subject to receipt of all required regulatory approvals, including approval of the TSX Venture Exchange. All of the securities issued pursuant to the Offering are subject to resale restrictions for a period expiring four months from the date of distribution. "With our new NI 43-101 compliant resource in Val d' Or, Quebec and exploration activity staying very active near our Lolita property in Santa Cruz, Argentina I look forward to more exploration results from our promising projects," said Anthony J. Cohen, President and CEO of Plato Gold Corp. About Plato Gold Corp. Plato Gold Corp. is a Canadian junior gold exploration company listed on the TSX Venture Exchange with exploration projects in Northern Ontario, Northern Quebec and the Lolita Property in the province of Santa Cruz, Argentina. The Northern Ontario project includes 5 properties: Guibord, Harker, Harker-Garrison, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario. The Northern Quebec project includes 7 properties: Nordeau Bateman, Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, Pershing Denain, Hop O'My Thumb and Once Upon a Time. All 7 properties are located near Val d'Or, Quebec. Plato is in the advanced exploration stage on the Nordeau West site with a NI 43-101 compliant gold resource reported on March 12, 2009. Highlights of the Nordeau West mineral resource update include: inferred resources of 146,315 oz Au resource on average grade of 4.09 g/t; and indicated resources of 30,212 oz Au on average grade of 4.17 g/t. In Argentina, the Lolita Property is comprised of 3 contiguous concessions and initial work has been started on this property. For additional company information, please visit: www.platogold.com. |
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