| ||Wed Jan 25, 2006|
Alto Announces Closing of First Tranche of Private Placement
| ||Vancouver, B.C., January 25, 2006. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce that it has closed the first tranche of its non-brokered private placement previously announced on January 10, 2006 and amended on January 17, 2006. The Company has raised $754,000 through the issuance of 7,540,000 units. The units were sold at a price of 10 cents per unit and comprise one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase an additional common share at a price of 15 cents in the first year and 20 cents in the second year.|
Finders' fees will be paid on this portion of the financing in the amount of $7,280.00 and 72,800 warrants will be issued with the same terms as those issued to subscribers. All securities issued pursuant to the private placement are subject to a four month hold period expiring May 25, 2006. This financing is subject to regulatory approval.
Proceeds from this financing will be used for drill programs on the Company's gold properties located in the Canadian Shield.
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.
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You can view the Next News Releases item: Thu Jan 26, 2006, Alto Commences Infill Drilling On Despinassy Gold Project
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