Virginia holds 6.9% of the 24,116,214 shares outstanding in Alto post-transaction. The proceeds of the private placement will be used to maintain Alto's quality gold portfolio, advance Alto's diamond exploration activities in the Pikoo district of north-central Saskatchewan and for general working capital.
Richard Mazur, CEO of Alto stated, "We are pleased that Virginia recognizes Alto's underlying value through this investment in Alto at a premium to its share price. We will aggressively explore our diamond properties in the immediate vicinity of North Arrow's Pikoo diamond discovery. Alto plans to conduct a till sampling program this summer to follow-up on some high interest geophysical targets identified on its property."
About Alto Ventures Ltd
Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold and diamond properties. Alto has recently acquired large packages of land in Saskatchewan that are prospective for hosting diamonds. The Company is active in Ontario, Quebec and Manitoba on gold exploration through its 100% owned properties and strategic partnerships and investments. 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.,
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:
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
Rick Mazur,
CEO and Director
ALTO VENTURES LTD.
1158-409 Granville Street
Vancouver, BC, V6C 1T2
Tel: 604-638-3943
Fax: 604-689-3609
Email: info@altoventures.com
