{
  "id": 11554002,
  "title": "Plato Gold closes initial $55,000 flow-through placement",
  "url": "https://urgent.news/2026/10/02/plato-gold-closes-initial-55-000-flow-through-placement",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T23:40:29.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/company-news/plato-gold-closes-initial-55000-flowthrough-placement-93CH-4930553"
  },
  "original_language": "en",
  "account": "Plato Gold Corp., a mining company listed on the TSX-V and OTCQB, successfully completed the first phase of its non-brokered flow-through private placement on Monday. The company issued 1.1 million flow-through common shares at a price of $0.05 per share, generating gross proceeds of $55,000. The placement, initially announced on September 9, 2026, aimed for a maximum gross proceeds of $150,000, with the possibility of additional closings.\n\nThe proceeds from the placement are intended for use in Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures at Plato Gold's Pic River Platinum Group Metals Project, located near Marathon, Ontario. The company plans to incur these expenses on or before December 31, 2026, and renounce them to the subscribers with an effective date no later than the same date.\n\nShareholders are required to hold the shares for a period of four months and one day before they can be traded, which began on January 30, 2027. The TSX Venture Exchange has conditionally accepted the offering, with final acceptance yet to be determined.\n\nAnthony Cohen, Plato Gold's President, CEO, and a director, subscribed for 600,000 shares at a cost of $30,000. Following the issuance, Cohen now beneficially owns or controls approximately 24.91% of the company's 231.8 million common shares outstanding. His share subscription is considered a related party transaction under Multilateral Instrument 61-101.\n\nThe company is leveraging exemptions from formal valuation and minority shareholder approval requirements, as neither the fair market value of the shares given to Cohen nor the consideration paid surpasses 25% of the company's market capitalization. Cohen opted to withdraw from the board meeting during the discussion and voting on his participation. No finder's fee or commission was paid in connection with this placement.",
  "summary": null,
  "key_points": [
    "Plato Gold issues 1.1 million flow-through shares at $0.05 each",
    "Proceeds of $55,000 intended for Canadian exploration expenses",
    "Shareholders must hold shares for 4 months and 1 day before trading"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Financial Post",
        "title": "Plato Gold Corp. Closes Initial $55,000 Tranche of Critical-Mineral Flow-Through Private Placement",
        "url": "https://urgent.news/2026/10/02/plato-gold-corp-closes-initial-55-000-tranche-of-critical-mineral",
        "published": "2026-10-02T23:37:34.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}