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Plato Gold (TSXV:PGC) has Announced a non-brokered Private Placement

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The company is looking to raise gross proceeds of up to $400,000 from the placement of up to 8 million units priced at $0.05 per unit. The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.10 for 36 months, subject to an acceleration clause.

Additional Information:

Company: Plato Gold
Website: http://www.PlatoGold.com
Stock Symbol: TSXV: PGC
Date Published: Nov 4, 2020
Transcript: Available

Video Transcript:

I’m Ashton Addison for Investmentpitch Media

Plato Gold has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $400,000 from the placement of up to 8 million units priced at $0.05 per unit. The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.10 for 36 months, subject to an acceleration clause.

The shares are currently trading at $0.035.

The net proceeds will be used for drilling on the company's Holloway gold property, prepare the company's Lolita property in Santa Cruz, Argentina for an upcoming drill program, and general working capital purposes.

The Holloway gold property is one of the company’s four properties located in the Timmins-Kirkland Lake area in the western portion of the prolific Abitibi Greenstone Belt.

Based on the fact that Newmont is actively drilling the Ghostmount fault extension east of the Holt-McDermott mine and had previously drilled both on and immediately west of the Holloway property near where this zone is projected, management believes there is good potential to locate gold mineralization, likely at depth, on the Holloway property.

The drill ready Lolita Property, located in the Province of Santa Cruz in southern Argentina, is in close proximity to three precious metal mines which are now in production and a fourth which is under construction.

Previously Plato has conducted three phases of prospecting, geological mapping and surface rock samples that resulted in the discovery of previously unknown hydrothermal structures with little or no prior sampling activity.

Anthony J. Cohen, President & CEO, recently stated: "Plato Gold thinks we have one of the best prospective precious metals exploration properties in Santa Cruz and look forward to either drilling the targets ourselves or bringing in an optionee to help develop the project and earn an interest in the property. The discovery of many precious metals deposits surrounding us bodes well for further discoveries for Lolita and Plato Gold.”

Near Marathon, Ontario, Plato is currently actively exploring its 100% Good Hope Niobium Property which is located about 45 kilometres northwest of the Town of Marathon and is readily accessible from the Trans-Canada Highway.

Also near Marathon, Plato optioned the Pic River Platinum Group Metals Property which consists of a total of 111 Single Cell Mining Claims and covers an area of approximately 2,247 hectares in Foxtrap Lake and Grain Township, Thunder Bay Mining District, in Ontario, including 19 claims on the eastern boundary next to Generation PGM.

All of Plato’s properties are located in major mining camps and possess excellent potential for the further development of precious metals and, near Marathon, Ontario, for niobium and Platinum Group Metals.

For more information, please visit the company’s website at www.PlatoGold.com, contact Anthony J. Cohen, President and CEO, at 416-968-0608 or by email at info@PlatoGold.com.

I’m Ashton Addison for Investmentpitch Media