Plato Gold Corp. ("Plato" or the "Company"), an exploration company with a portfolio of properties in significant gold mining camps in Northern Ontario, Northern Québec, and Santa Cruz, Argentina is pleased to announce that the Company welcomes the amalgamation between Victory Gold Mines Inc. and Northern Gold Mining Inc., as announced by Northern Gold on December 12, 2012.
In accordance with the announced amalgamation, Plato will tender their 1,000,000 shares of Victory Gold for 500,000 shares of Northern Gold at a deemed price of $0.37 per share. As announced on July 26, 2012, the 1,000,000 shares were acquired as part of the payment from Victory Gold for 50% interest in 16 claims in the Guibord Properties owned by Plato.
In addition, Plato currently holds 175,000 shares of Northern Gold. The 175,000 shares were acquired as part of the payment for the 24 Harker Garrison Claims sold to Northern Gold, as announced on May 25, 2011.
Upon completion of the amalgamation between Victory Gold and Northern Gold, Plato will hold a total of 675,000 shares of Northern Gold.
"With the amalgamation of Victory Gold and Northern Gold, Plato holds a significant number of shares in Northern Gold - a dynamic, growing, future production company. Plato looks forward to seeing our investment grow in value. The Company will continue to acquire strategic properties and create value," said Anthony Cohen, President of Plato Gold Corp.
For full details, please visit our website.
Source: http://www.platogold.com/