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

Plato Gold Corp. has closed an initial $55,000 tranche of its non-brokered critical-mineral flow-through private placement, issuing 1,100,000 flow-through common shares at $0.05 each on September 29, 2026. No warrants were issued with the first closing.

For retail investors following small-cap financing, the immediate point is that the company has only completed part of a larger placement. The offering was announced on September 9, 2026 for gross proceeds of up to $150,000, and Plato Gold said it may complete the deal in one or more additional closings.

The shares are intended to qualify as flow-through shares under the Income Tax Act (Canada). Plato Gold said it plans to use the money for eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures, tied to exploration at its Pic River Platinum Group Metals Project near Marathon, Ontario.

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

The new shares carry a statutory hold period of four months and one day and may not 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 still pending.

Anthony Cohen, Plato Gold’s president, chief executive officer and a director, subscribed personally for 600,000 FT Shares for $30,000. After the issuance, he beneficially owns, or controls or directs, 57,738,311 common shares, or about 24.91% of the 231,765,717 common shares outstanding before giving effect to options for another 3,500,000 shares.

The company said Mr. Cohen’s subscription is a related party transaction under Multilateral Instrument 61-101, the rule set that covers special transactions involving minority security holders. Plato Gold 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 him nor the consideration he paid exceeded 25% of the company’s market capitalization, calculated under MI 61-101.

Plato Gold said no finder’s fee or commission was paid on the initial closing.