Mr. Anthony J. Cohen

December 23, 2010 10:00 ET

Anthony J. Cohen Acquires Interest in Plato Gold Corp.

TORONTO, ONTARIO--(Marketwire - Dec. 23, 2010) - Mr. Anthony J. Cohen ("Cohen") announces that in connection with the closing of a non-brokered private placement by Plato Gold Corp. ("Plato") on December 21, 2010, he acquired ownership of 2,800,000 common shares of Plato (representing 2.38% of Plato's outstanding common shares) and 1,400,000 warrants, each exercisable into a common share of Plato for $0.10 per share (representing 3.36% of Plato's outstanding warrants). Prior to the closing of the private placement, Mr. Cohen also owns directly, or indirectly 17,341,385 common shares of Plato and 5,566,668 warrants of Plato.

Upon closing of the private placement, Mr. Cohen who is the president and CEO of Plato will own 20,141,385 common shares (representing 17.11% of Plato's outstanding common shares) and warrants exercisable into 6,966,668 common shares (representing 16.71% of the outstanding warrants).

In connection with the subscription from securities, Mr. Cohen and Plato entered into a subscription agreement providing for the issuance of 2,800,000 units for $0.065 unit, each unit comprised of 1 common share issued on a flow-through basis and ½ purchase share warrant for an aggregate purchase price of $182,000. 

Mr. Cohen stated "I am making a further investment in Plato Gold because at these levels I feel that the shares are undervalued".

Mr. Cohen acquired the flow-through units for investment purposes. Mr. Cohen may in the future take such actions in respect of his holdings as he may deem appropriate in light of the circumstances then existing, including acquiring ownership or control over additional shares or other securities of Plato or the disposition of all or a portion of his holdings in open market or in privately negotiated transactions.

The subscription for flow-through units was carried out in accordance with and in reliance on the "Accredited Investor" exemption in section 2.3 of National Instrument 45-106 - Prospectus and Registration Exemptions which has been adopted by the securities regulatory authorities in all Provinces of Canada and which exempts the issue of such securities from the prospectus requirements of applicable securities law.

A copy of the early warning report in respect of this transaction has been filed with the applicable securities commissions and can be found at www.sedar.com.

Contact Information

  • Mr. Anthony J. Cohen
    Suite 300, 1300 Bay Street
    Toronto, Ontario
    M5R 3K8