From Financialpost · · 1m 10s
Plato Gold Closes $55k Critical Mineral Deal
Plato Gold Corp. closes initial $55,000 tranche of critical mineral flow-through shares for exploration.
In brief
Plato Gold Corp. closes initial $55,000 tranche of critical mineral flow-through shares for exploration. Plato Gold Corp. closed an initial $55,000 private placement for critical mineral exploration at Pic River Platinum Project in Ontario. Originally reported by Financialpost.
Plato Gold Closes Initial Tranche
Plato Gold Corp. closed an initial tranche of its non-brokered critical-mineral flow-through private placement for $55,000.
Shares Issued at $0.05 Each
The company issued 1,100,000 flow-through common shares at $0.05 per share for gross proceeds of $55,000.
Tax Act Compliance
Each flow-through share qualifies as a "flow-through share" under Canada's Income Tax Act for exploration expenses.
Exploration at Pic River
The company plans to use funds for eligible Canadian exploration expenses at its Pic River Platinum Group Metals Project in Marathon, Ontario.
Deadline for Exploration
The company intends to incur exploration expenses by December 31, 2026 and renounce them to subscribers by the same date.
Shareholder Hold Period
The shares are subject to a four-month hold period and may not trade before January 30, 2027, per TSX Venture Exchange rules.
Here's the gist
Plato Gold Corp. closed an initial $55,000 private placement for critical mineral exploration at Pic River Platinum Project in Ontario.
