05:47:20 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Pacton Gold Inc (2)
Symbol PAC
Shares Issued 41,318,977
Close 2022-04-06 C$ 0.405
Market Cap C$ 16,734,186
Recent Sedar Documents

Pacton Gold closes final tranche of financing

2022-04-06 15:23 ET - News Release

Mr. Nav Dhaliwal reports

PACTON GOLD CLOSES FINAL TRANCHE OF FINANCING

Further to its news releases of March 11, 2022, and April 4, 2022, Pacton Gold Inc. has closed the final tranche of its private placement. The company issued 250,000 flow-through common shares at 36 cents per flow-through share for total proceeds of $90,000 and 4.58 million non-flow-through common shares at 30 cents per non-flow-through share for total gross proceeds of $1,374,000.

The gross proceeds from the issuance of the flow-through 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 for the issuance of the non-flow-through shares will be used for general working capital.

The company paid $5,400 in cash and issued 33,000 share purchase warrants to a finder for its efforts in finding certain placees. Each finder warrant is exercisable into one common share of the company at a price of 40 cents per share for a period of two years from date of issue.

All securities issued under the private placement will be subject to statutory hold periods expiring on Aug. 7, 2022.

About Pacton Gold Inc.

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.

We seek Safe Harbor.

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