| ||Tue Jan 17, 2006|
Alto Increases Proposed Private Placement
| ||Vancouver, B.C., January 17, 2006. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce that it has elected to increase the size of its non-brokered private placement financing previously announced on January 10, 2006. The financing is now anticipated to be completed through the issuance of up to 10,000,000 units at a price of $0.10 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.15 during the first year and $0.20 during the second year from the date of closing.|
The terms and conditions of the warrants will also contain an accelerated exercise provision that, if the Company's shares trade on a weighted average trading price of $0.30 for 20 consecutive trading days, warrant holders will be given notice that they have 30 days to exercise or their warrants will expire.
Finder's fees payable in cash and/or securities will be paid in conjunction with this placement and in accordance to TSX Venture Exchange policies. Proceeds from this financing will be used for drilling on the Company's Despinassy and Coldstream gold projects. Completion of the private placement remains subject to acceptance by the TSX Venture Exchange.
About Alto Ventures Ltd.
Alto Ventures Ltd. is a gold exploration and development company with a portfolio of nine properties in the Canadian Shield. The Company is focused on projects located within the Abitibi Greenstone Belt in Ontario and Quebec as well as in historic gold producing districts. Alto's strength is firmly founded upon the broad capabilities of its management team, which is highly accomplished in the realms of property acquisition, project financing, exploration and mine development. For further information visit our website at www.altoventures.com
ON BEHALF OF THE BOARD
Richard Mazur, P.Geo.
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
You can view the Next News Releases item: Wed Jan 25, 2006, Alto Announces Closing of First Tranche of Private Placement
You can view the Previous News Releases item: Tue Jan 10, 2006, <b>Alto Arranges Financing For Drilling Of Gold Projects</b>
You can return to the main News Releases page, or press the Back button on your browser.