Plato Gold closes $195,000 financing

Junior explorer Plato Gold Corp. (CVE:PGC) said Friday that it closed its $195,000 non-brokered private placement financing.

Under the terms of the offering, the company, which holds properties in northern Ontario, northern Quebec, and in Argentina, issued 3.9 million flow-through units at a price of $0.05 per unit.

Each unit consists of one common share, which qualifies as a flow through share, and one half common share purchase warrant. Each full warrant is exercisable to acquire one common share of the company for a period of eighteen months from the date of issuance at a price of $0.10 per share.

The proceeds from the financing will be used for exploration work at the company's properties in the Val d'Or region of Quebec. The company paid finders' fees in respect of the offering totalling $1,000 in cash.

“I am very pleased to announce our current financing as this will enable the company to continue our next stage of exploration work in Val d’Or, Québec," said president and CEO, Anthony Cohen.

"The company remains focused on our goal to increase the size of our NI 43-101 compliant resource in Val d’Or, as well as our on going projects in Timmins, Ontario and in Santa Cruz, Argentina."

Closing of the offering is subject to receipt of all required regulatory approvals, including
approval of the TSX Venture Exchange.

The company holds four propreties in Ontario, seven in Quebec, and the Lolilta property in Santa Cruz, Argentina.