One of Canada’s up-and-coming junior miners is upping its investment profile with news of a share offering.
Toronto-based Plato Gold Corp. (TSX-Venture:PGC) announced plans to complete a non-brokered private placement of up to 3,500,000 common shares for a dime per share, for gross proceeds of approximately $350,000. The offering is set to take place by the middle of next month, and subject to four-month one-day statutory hold period.
The net proceeds are earmarked for exploration to advance the Good Hope Niobium Property near Marathon, in Northern Ontario and for working capital.
Plato CEO Anthony Cohen expressed enthusiasm with the offering, “as niobium is very much in demand for all of its unique characteristics. With the current world trade difficulties, end users will be looking to diversify their source of supply,” said Anthony J. Cohen, CEO of Plato.
Shares in Plato took on half a cent, or 16.7%, to 3.5 cents, on volume of 246,000