Pacton Arranges $4m Financing
Pacton Gold Inc. has announced a private placement of 7,142,857 flow-through shares at $0.42 and 3,333,333 non flow-through shares at $0.30, aiming to raise a total of $4 million. The gross proceeds from flow-through shares, amounting to $3 million, will fund Canadian exploration expenses, while proceeds from non flow-through shares will support general working capital. The deal is pending regulatory approval from the TSX Venture Exchange.
- Private placement aims to raise $4 million, enhancing capital for exploration projects.
- Flow-through shares will fund Canadian Exploration Expenses, qualifying for tax incentives.
- Company's strategic focus on developing high-grade gold properties in Ontario and Western Australia.
- None.
VANCOUVER, BC / ACCESSWIRE / March 11, 2022 / Pacton Gold Inc. (TSXV:PAC)(OTC PINK: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
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.
Nav Dhaliwal
Interim President and CEO
For more information, please contact 1-(855)-584-0258 or info@pactongold.com.
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.
SOURCE: Pacton Gold Inc.
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FAQ
What is the amount raised by Pacton Gold in the recent private placement?
What will the proceeds from the flow-through shares be used for?
What is the price per share for Flow-Through and Non Flow-Through shares?
Is the private placement subject to any regulatory approval?
What properties is Pacton Gold focused on exploring?
