Plato Gold closes first $55,000 tranche of flow-through placement

• 1,100,000 flow-through shares were issued at $0.05 each.
• The company said no warrants were issued and no finder’s fee or commission was paid.
• Anthony Cohen subscribed for 600,000 shares for $30,000.
• The TSX Venture Exchange has conditionally accepted the offering, with final acceptance pending.

Plato Gold Corp. closed an initial tranche of its previously announced non-brokered critical-mineral flow-through private placement on Sept. 29, 2026. The company issued 1,100,000 flow-through common shares at $0.05 each for gross proceeds of $55,000.

Plato Gold closes first $55,000 tranche of flow-through placement

No warrants were issued. The offering was announced on Sept. 9, 2026 for gross proceeds of up to $150,000 and may be completed in one or more additional closings.

Use of proceeds

Plato said the shares are intended to qualify as flow-through shares under the Income Tax Act of Canada. The company intends to use the proceeds for eligible Canadian exploration expenses tied to exploration at its Pic River Platinum Group Metals Project near Marathon, Ontario.

It said the expenditures are expected to be incurred on or before Dec. 31, 2026 and renounced to subscribers with an effective date no later than Dec. 31, 2026 under the general renunciation rule.

Insider participation

Anthony Cohen, the company’s president, chief executive officer and a director, subscribed personally for 600,000 flow-through shares for $30,000.

After the issuance, Cohen beneficially owns, or exercises control or direction over, 57,738,311 common shares, equal to about 24.91% of the 231,765,717 common shares outstanding before options to acquire another 3,500,000 common shares.

Plato said Cohen’s subscription was a related party transaction under MI 61-101. The company said it is relying on exemptions from formal valuation and minority shareholder approval requirements because neither the fair market value of the shares issued to Cohen nor the consideration he paid exceeds 25% of the company’s market capitalization.

Cohen disclosed his interest, withdrew from the board meeting for the discussion and vote on his participation and did not vote. The disinterested directors approved his participation on the same material terms as the other subscriber in the tranche.

Trading status

The shares issued in the initial closing are subject to a statutory hold period of four months and one day and may not be traded before Jan. 30, 2027, except as permitted under applicable securities legislation. The TSX Venture Exchange has conditionally accepted the offering, with final acceptance still pending.

No finder’s fee or commission was paid in connection with the closing.