By Devika Patel
Knoxville, Tenn., Dec. 14 - Plato Gold Corp. said it has settled a C$1.02 million private placement of units. The deal priced on Nov. 30.
The company sold 9.28 million units at C$0.11 each. The units consist of one flow-through share and one warrant with each two-year warrant exercisable at C$0.20 for one year and at C$0.30 thereafter.
The warrants may expire sooner if the company's common shares close at C$0.30 or higher in the first year or at C$0.40 or higher in the second year for 20 consecutive trading days. In that case, the warrants will expire 30 days after the company notifies holders.
Proceeds will be used for exploration.
Toronto-based Plato Gold is a mineral exploration company with properties in Canada and Argentina.
Issuer: | Plato Gold Corp.
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Issue: | Units of one flow-through share and one warrant
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Amount: | C$1,020,800
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Units: | 9.28 million
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Price: | C$0.11
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.20 for the first year, C$0.30 thereafter
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Pricing date: | Nov. 30
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Settlement date: | Dec. 14
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Stock symbol: | TSX Venture: PGC
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Stock price: | C$0.115 at close Nov. 29
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