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

Plato Gold Corp. (TSX-V: PGC, OTCQB: NIOVF) has closed an initial tranche of a non-brokered critical-mineral flow-through private placement, issuing 1,100,000 flow-through common shares at $0.05 per share for gross proceeds of $55,000, effective September 29, 2026.

The offering, announced September 9, 2026, targets aggregate gross proceeds of up to $150,000 and may be completed in one or more additional closings. No warrants or finder's fees were issued in connection with this tranche.

The company intends to use the proceeds to fund Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures under the Income Tax Act (Canada), directed at its Pic River Platinum Group Metals Project near Marathon, Ontario. The expenditures are to be incurred and renounced to subscribers by December 31, 2026.

The shares are subject to a statutory hold period and may not be traded before January 30, 2027. The TSX Venture Exchange has conditionally accepted the offering, with final acceptance pending.

Anthony Cohen, President and CEO of Plato Gold, personally subscribed for 600,000 of the flow-through shares for $30,000, constituting a related party transaction under Multilateral Instrument 61-101. Following the issuance, Cohen beneficially owns or controls 57,738,311 common shares, representing approximately 24.91% of the 231,765,717 shares outstanding, excluding options to acquire an additional 3,500,000 shares. Cohen was already a Control Person of the company prior to the offering.

The company applied exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, as the value of shares issued to Cohen does not exceed 25% of the company's market capitalization. Cohen withdrew from board discussions and did not vote on his own participation.

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