Business
Plato Gold Corp. Announces $300,000 Non-Brokered Private Placement
Not for Dissemination in the United States or over United States Newswire Services TORONTO, July 11, 2018 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V:PGC) (“Pla
About this update from Plato Gold Corp.
[{"type":"text","content":" Not for Dissemination in the United States or over United States Newswire Services TORONTO, July 11, 2018 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V:PGC) (“Plato” or the “Corporation”) is pleased to announce that it intends to complete a non-brokered private placement of up to 5,454,545 common shares (a “Share” or “Shares”) at a price of CAN$0.055 per Share, for gross proceeds of approximately $300,000 (the “Offering”). Closing of the Offering is expected to occur on or about August 8, 2018. The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period. The Corporation intends to use the net proceeds from the Offering on exploration, assay results, and working capital for the Good Hope Niobium Project and for general working capital purposes. The Corporation anticipates that certain insider(s) (the “Insiders”) will participate in the Offering. Participation by the Insiders will be considered “related party transactions” within the meaning of Multilateral Instrument 61-101 (“MI 61-101“), requiring the Corporation, in the absence of exemptions, to obtain a formal valuation for and minority shareholder approval of the “related party transactions”. The Corporation is relying on an exemption from the requirement to obtain formal valuation and minority shareholder approval as the fair market value of the participation in the Offering by the Insiders does not exceed 25% of the market capitalization of the Corporation, as determined in accordance with MI 61-101. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities. 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 a...