Business
Plato Gold Corp. Increases Non-Brokered Private Placement to up to $350,000
TORONTO, June 07, 2021 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC; Frankfurt: 4Y7 or WKN: A0M2QX) (“Plato” or the “Company”) is pleased to announce that,
About this update from Plato Gold Corp.
[{"type":"text","content":" TORONTO, June 07, 2021 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC; Frankfurt: 4Y7 or WKN: A0M2QX) (“Plato” or the “Company”) is pleased to announce that, due to significant investor demand, it has increased the size of its previously announced non-brokered private placement (see news release dated May 6, 2021) to aggregate gross proceeds of up to $350,000 (the “Offering”). Closing of the Offering is expected to occur on or about June 10, 2021. The Offering will now be composed of (i) up to 5,100,000 flow-through shares (“FT Shares”) at a price of $0.05 per FT Share for gross proceeds of up to $255,000; and (ii) up to 1,900,000 hard dollar units (“HD Units”) at a price of $0.05 per HD Unit for gross proceeds of up to $95,000. Each HD Unit shall be composed of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share (a “Warrant Share”) at a price of $0.07 per Warrant Share until the date which is twenty-four (24) months following the closing date of the Offering, whereupon the Warrants will expire. Each FT Share shall be composed of one Common Share issued on a flow-through basis within the meaning of the Income Tax Act (Canada) (the “Tax Act”). Eligible finders who introduce an investor to the Offering will be paid (i) a cash commission of up to 8% of the gross proceeds raised by the finders in respect of the sale of FT Shares and Units pursuant to the Offering; and (ii) that number of compensation options (the “Finder Unit Warrants”) exercisable to acquire that number of Units as is equal to up to 8% of the number of FT Shares and Units sold with the assistance of the finders pursuant to the Offering. Each Finder Unit Warrant will entitle the holder to acquire one (1) Unit (a “Finder Unit”) at the exercise price of C$0.05 per Finder Unit for a period of 24 months from the issuance of Finder Unit Warrants. Each Finder Unit shall be composed of one Common Share and one Common Share purchase warrant (a “Finder Warrant”). Each Finder Warrant will entitle the holder to purchase one Common Share (a “Finder Warrant Share”) at a price of $0.07 per Finder Warrant Share until the date which is twenty-four (24) months following the closing date of the Offering. Completion of the Offering is subject to certa...