| ||Wed Dec 23, 2009|
Alto Closes Private Placement
| ||Vancouver, B.C., December, 22, 2009. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce that it has closed its non-brokered private placement previously announced on December 10, 2009. The Company has raised $300,000 through the issuance of 5,000,000 flow through common shares at a price of $0.06 per share. The proceeds will be used to complete a diamond drill program on the Vassal Project and to advance exploration on the Company's Beardmore area projects.|
The Company paid finder's fees to the MineralFields Group of $19,390 and issued 323,166 warrants each exercisable to purchase one common share at a price of $0.10 for a period of one year expiring December 15, 2010. All securities issued in the private placement are subject to a four month hold period expiring April 16, 2010.
About Alto Ventures Ltd
Alto Ventures Ltd. is a gold exploration and development company with a portfolio of highly prospective properties in the Canadian Shield. The Company is currently active in Quebec where it is focussed on the Destiny Gold project in the Abitibi Greenstone Belt and in Ontario in the Beardmore and Shebandowan gold districts.
For more details regarding the Company's projects, please visit our website at www.altoventures.com.
About MineralFields, Pathway and First Canadian Securities (r)
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (r) (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (r).
ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng.
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Investor Relations Manager
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Email: [email protected]
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