Vancouver, B.C. – June 12, 2014 - Plate Resources Inc. (TSXV: PLR) (the “Company” or “Plate”) is pleased to announce that it has obtained a demand loan in the amount of $200,000 (the “Loan”) from the Bank of Montreal. The Loan carries a rate of interest of prime + 1.5% per annum and is personally guaranteed by C. Harry Katevatis, President and a Director of the Company. Mr. Katevatis has also pledged his personal bank account as collateral for the Loan.
The Company has agreed, subject to TSX Venture Exchange approval, to grant Mr. Katevatis 100,000 bonus shares (the “Shares”) of the Company as consideration for providing his personal guarantee and account as collateral for the Loan.