Plato Gold Corp. Closes Initial $55,000 Flow-Through Private Placement
News related to:Plato Gold Corp · 2 min read
Toronto, Oct. 02, 2026 /CourierPR/ -- Plato Gold Corp. has completed the first tranche of a critical-mineral flow-through private placement, raising $55,000 through the issuance of 1,100,000 flow-through common shares (FT Shares) at $0.05 each. No warrants were issued in connection with this transaction.
The company announced the Offering on September 9, 2026, with a target of up to $150,000. The funds raised will be used to incur eligible Canadian exploration expenses, specifically for exploration activities at the company's Pic River Platinum Group Metals Project near Marathon, Ontario.
Anthony Cohen, President and CEO of Plato Gold Corp., participated in the Offering by subscribing for 600,000 FT Shares, contributing $30,000. Following this transaction, Mr. Cohen beneficially owns or exercises control or direction over approximately 24.91% of the company's common shares, representing 57,738,311 shares out of the total 231,765,717 common shares outstanding. He also holds options to acquire an additional 3,500,000 common shares.
The FT Shares issued under this initial closing are subject to a statutory hold period of four months and one day, meaning they cannot be traded before January 30, 2027, except as permitted under applicable securities legislation. The TSX Venture Exchange has conditionally accepted the Offering, with final acceptance pending.
The Pic River Platinum Group Metals Project, located in Foxtrap Lake and Grain Township, near Marathon, Ontario, covers 2,352 hectares. This property is contiguous to the western boundary of Generation Mining's Marathon PGM project and is located on strike to Generation Mining's Sally deposit. The company also owns a 95% interest in Winnipeg Minerals S.A., an Argentina-based company with mineral rights covering 9,672 hectares, potentially rich in gold and silver.
The Good Hope Niobium Project, consisting of approximately 6,035 hectares in the Killala Lake Area and Cairngorm Lake Area Townships, near Marathon, Ontario, is another significant project for Plato Gold Corp. The primary target of this project is niobium.
Plato Gold Corp. is a Canadian exploration company with projects in Marathon, Ontario, and Santa Cruz, Argentina, and a remaining mineral property interest in Timmins, Ontario. The company's remaining Timmins, Ontario mineral property interest consists of a 20% interest in the Harker property, located in the Harker/Holloway gold camp east of Timmins, Ontario, and prospective for gold.
For additional information, visit the company's website at www.platogold.com.
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