Vancouver, B.C., January 4, 2011. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce that it has raised $539,500 in the second and third tranches of its private placement announced on December 10, 2010 through the issuance of 5,090,000 units (the "Units") and 5,700,000 flow though units (the "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, each warrant being exercisable at a price of $0.10 for a period of 12 months expiring on December 21 and 29, 2011. Each FT Unit consists of one flow through share and one half of one share purchase warrant, each whole warrant being exercisable at a price of $0.10 for a period of 12 months expiring on December 21 and 29, 2011.
The Company paid finders fees of $38,760 cash and 775,200 broker warrants exercisable at a price of $0.10 for a period of 12 months in connection with the private placement.. All securities are subject to a four month hold period expiring April 22 and 30, 2011.
Use of Proceeds will be for drilling on the Coldstream project (Shebandowan camp) and Miner Lake (Beardmore-Geraldton camp) properties in Ontario and the Alcudia property in the Urban-Barry gold belt in Quebec.
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 has a strategy to discover gold deposits nearby existing infrastructure through exploration of its 100% owned properties and through strategic partnerships and joint ventures. Alto is active in the Abitibi greenstone belt of Quebec and the Beardmore-Geraldton and Shebandowan gold districts in Ontario. 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 portfolio.
For more details regarding the Company's projects, please visit our website at www.altoventures.com.
ON BEHALF OF THE BOARD
Richard Mazur, P. Geo.
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:
Mike Koziol,
President and Director
ALTO VENTURES LTD.
Unit 8 -- 1351D Kelly Lake Rd
Sudbury, ON., P3E 5P5
Tel: 705-522-6372
Fax: 705-522-8856
Email: koziol@altoventures.com
Website: www.altoventures.com
Richard Mazur,
CEO & Director
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Tel: 604-689-2599
Fax: 604-689-3609
Email: info@altoventures.com
Website: www.altoventures.com
