| ||Fri Dec 10, 2010|
Alto Arranges $2 Million Private Placement
| ||Vancouver B.C., December 10, 2010. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce a non-brokered private placement of up to $2,000,000 through the issuance of a combination of units ("Units") and flow through units ("FT Units") at a price of $0.05 per Unit and FT Unit. Each Unit consists of one common share and one share purchase warrant ("Warrant"), each Warrant being exercisable to purchase one common share at a price of $0.10 for a period of one year from closing. Each FT Unit shall consist of one flow through common share and one-half of one share purchase warrant (FT Warrant"), each whole FT Warrant being exercisable to purchase one common share at a price of $0.10 for a period of one year from closing. Finders' fees will be payable in connection with the private placement in accordance with the policies of the TSX Venture Exchange. |
Proceeds from this financing will be used for exploration on the Coldstream joint venture and the Company's Beardmore Geraldton properties in Ontario, the Alcudia project in Quebec and general working capital. The private placement is 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 highly prospective properties in the Canadian Shield. The Company is active in Quebec in the Abitibi greenstone belt where it has a number of projects including the Alcudia and Destiny gold properties. In Ontario the Company is exploring in the Beardmore-Geraldton gold belt and the Shebandowan gold district. Recently, with the acquisition of the Chilko project in British Columbia, the Company has added large tonnage bulk-mineable porphyry style deposits to its exploration targets.
ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng.
President & CEO
Neither the 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:
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Email: [email protected]
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