Mr. Nav Dhaliwal reports
PACTON GOLD CLOSES $3M FLOW-THROUGH FINANCING
Further to the news releases of March 11, 2022, Pacton Gold Inc. has closed the flow-through portion of its private placement. The company issued 8,333,333 flow-through shares at 36 cents per FT share for total proceeds of $3-million.
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).
All securities issued under the private placement will be subject to a statutory hold period expiring on July 31, 2022.
About Pacton Gold Inc.
Pacton 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.
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