Vancouver, B.C., October 25, 2017. Alto Ventures Ltd. ("Alto" or the "Company") (ATV: TSX-V) announces that it has closed the first tranche of its private placement previously announced on October 2, 2017. The Company has raised $248,500 through the issuance of 3,550,000 units (the "Units") at a price of $0.07 per Unit. Each Unit will be comprised of one common share and one-half of one share purchase warrant (a "Warrant"). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.12 per share for a period of thirty months expiring April 19, 2020. The Company issued 224,000 finder warrants at a price of $0.12 exercisable until April 19, 2020 and paid $15,680 in cash commissions. All securities are subject to a fourth month hold period expiring February 20, 2018.
About Alto Ventures Ltd
Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold properties. The Company is active in the Abitibi greenstone belt in Quebec on the Destiny gold property and is exploring in the Beardmore-Geraldton gold belt in Ontario. In Manitoba, the Company is focused on the gold and base metals potential of the highly prospective but relatively under-explored Oxford Lake property. For more details regarding the Company's projects, please visit our website at www.altoventures.com.
ON BEHALF OF THE BOARD,
Richard J. Mazur, P. Geo.,
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:
Mike Koziol, President and Director
ALTO VENTURES LTD.
Unit 7 - 1351C Kelly Lake Rd
Sudbury, ON., P3E 5P5
Rick Mazur, CEO and Director
ALTO VENTURES LTD.
Suite 615-800 W. Pender Street
Vancouver, BC, V6C 2V6