Pacton Arranges $4m Financing
Vancouver, British Columbia, March 11, 2022 – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the “Company” or “Pacton”) is pleased to announce that it has arranged, subject to regulatory approval, a private placement of 7,142,857 flow-through shares (each a “FT Share”) at $0.42 per FT Share for total gross proceeds of $3,000,000 and 3,333,333 non flow-through shares (each a “NFT Share”) at $0.30 per NFT Share for total gross proceeds of $1,000,000.
The gross proceeds from the issuance of the FT Shares will be used for Canadian Exploration Expenses and will qualify as “flow-through mining expenditures”, as defined in subsection 127(9) of the Income Tax Act (Canada). The proceeds from the issuance of NFT Shares will be used for general working capital.
Finders’ fees may be payable in whole or in part on the placement, pursuant to the policies of the TSX Venture Exchange.
All securities issued under the placement will be subject to regulatory hold periods expiring four months from the date of issue.
The placement is subject to the approval of the TSX Venture Exchange.
About Pacton Gold
Pacton Gold is a Canadian exploration company with key strategic partners focused on the exploration and development of high-grade gold properties located in the Red Lake gold rush in Ontario, Canada. The Company also owns a strategic portfolio of prospective projects in the district-scale Pilbara gold rush in Western Australia.
On Behalf of the Board of Pacton Gold Inc.
Interim President and CEO
For more information, please contact 1-(855)-584-0258 or [email protected].
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to the Company achieving success in exploring its properties and the impact on the Company of these events, including the effect on its share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances. References to other issuers with nearby projects is for information purposes only and there are no assurances the Company will achieve similar results.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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.