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Plato Gold Announces Conversion of Convertible Debentures and Issuance of Shares for Debenture Interest
TORONTO, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC) (“Plato” or the “Company”), an exploration company with a portfolio of properties in No
About this update from Plato Gold Corp.
[{"type":"text","content":" TORONTO, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC) (“Plato” or the “Company”), an exploration company with a portfolio of properties in Northern Ontario and Santa Cruz, Argentina is pleased to announce that convertible debentures, originally issued on June 15, 2017 and June 22, 2017, totaling $300,000 were converted at the exercise price of $0.05 per share for a total of 6,000,000 common shares in accordance with their terms. For more information on the particulars of the convertible debentures, see Plato’s press releases dated June 15, 2017 and June 22, 2017. In addition, interest due of $30,000 was exchanged for 600,000 common shares based on the deemed minimum price of $0.05 for shares for debt issuances as set by the TSX Venture Exchange Inc (“TSXV”). All issuance of shares are subject to approval by the TSXV. The securities issued pursuant to the transactions noted in this press release are subject to a statutory hold period of four (4) months from the date of issuance. Consequently, unless otherwise permitted by applicable securities legislation, the holder of such securities must not trade the securities before such date. For full details, please visit us at www.platogold.com. 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 hect...