Wednesday, July 03, 2019 4:34:20 PM
Vancouver, British Columbia, July 3, 2019 - Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the "Company" or "Pacton") is pleased to announce that, further to its news release of June 7, 2019, it has closed the final tranche of its financing. In total, the Company sold 35,400,000 common shares at a price of $0.10 per share and 166,667 common shares at a price of $0.12 per share for total gross proceeds of $3,560,000 and 16,590,847 flow-through common shares (the "FT Shares") at a price of $0.12 per FT Share for total gross proceeds of $1,990,901.
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.
Dale Ginn, Executive Chairman of Pacton, commented, "We are pleased to have completed this final tranche of the financing. Pacton has a very strong portfolio of gold projects in Canada and Western Australia and has a comprehensive exploration program underway. We are particularly excited about the prospects for our Red Lake gold project and Pilbara gold projects and we look forward to sharing results as they come in."
For its efforts in finding certain placees, the Company paid a total of $111,048 in finders' fees and issued share purchase warrants to the finders authorizing the purchase of 205,500 common shares at a price of $0.15 per common share for a period of two years from the date of issue and share purchase warrants authorizing the purchase of 472,500 common shares at a price of $0.20 per common share for a period of one year from the date of issue.
All securities issued under the placements are subject to a four month hold period from the date of issue in accordance with applicable securities laws.
Certain directors and officers of the Company are participating in the private placement. Participation of insiders of the Company in the private placement constitutes a related-party transaction as defined under Multilateral Instrument 61-101. Because the Company's shares trade only on the TSXV, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(b) of MI 61-101.
2.On Behalf of the Board of Pacton Gold Inc.
3.R. Dale Ginn
4.Executive Chairman
For more information, please contact 1-(855)-584-0258 or info@pactongold.com.
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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Copyright (c) 2019 TheNewswire - All rights reserved.
TheNewsWire
July 3, 2019 - 12:50 PM PDT
Read more at https://stockhouse.com/news/press-releases/2019/07/03/pacton-gold-closes-additional-2-8-million-of-oversubscribed-private-placement#OlJ69IBCITiO2lQp.99
Recent PAC News
- Grupo Aeroportuario del Pacífico Announces Credit Line Refinancing for Ps. 1.0 Billion • GlobeNewswire Inc. • 07/10/2024 11:45:37 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/09/2024 10:00:09 AM
- Grupo Aeroportuario del Pacífico Announces Payment Date for the First Installment of the Capital Stock Reduction Approved at the Extraordinary Shareholders’ Meeting • GlobeNewswire Inc. • 07/09/2024 01:01:28 AM
- Grupo Aeroportuario del Pacifico Reports in June 2024 a Passenger Traffic Decrease of 1.9% Compared To 2023 • GlobeNewswire Inc. • 07/05/2024 08:23:17 PM
- Grupo Aeroportuario del Pacifico Announces no Major Damage Reported as a Result of Hurricane Beryl • GlobeNewswire Inc. • 07/05/2024 12:21:21 AM
- Grupo Aeroportuario del Pacifico Announces a Drawdown of a Credit Line for Ps. 875.0 Million • GlobeNewswire Inc. • 06/20/2024 10:47:49 PM
- Grupo Aeroportuario del Pacifico Informs the Acquisition of 51.5% of the Shares Representing the Capital Stock of the Company “GWTC” • GlobeNewswire Inc. • 06/11/2024 11:41:39 PM
- Grupo Aeroportuario del Pacifico Announces Credit Line Refinancing for Ps. 1.5 Billion • GlobeNewswire Inc. • 06/07/2024 09:16:57 PM
- Grupo Aeroportuario Del Pacifico Reports in May 2024 a Passenger Traffic Decrease of 2.3% Compared to 2023 • GlobeNewswire Inc. • 06/04/2024 11:43:39 PM
- Grupo Aeroportuario del Pacifico Reports in April 2024 a Passenger Traffic Decrease of 7.3% Compared to 2023 • GlobeNewswire Inc. • 05/03/2024 10:34:03 PM
- Grupo Aeroportuario del Pacifico Announces Filing of 2023 Annual Report and Form 20-F • GlobeNewswire Inc. • 04/29/2024 10:08:29 PM
- Resolutions Adopted at the Annual General Ordinary and Extraordinary Shareholders’ Meeting for Grupo Aeroportuario del Pacifico on April 25, 2024 • GlobeNewswire Inc. • 04/26/2024 02:37:28 AM
- Grupo Aeroportuario del Pacifico Announces Results for the First Quarter of 2024 • GlobeNewswire Inc. • 04/23/2024 01:14:04 AM
- Grupo Aeroportuario del Pacifico Reports in March 2024 a Passenger Traffic Decrease of 0.6% Compared to 2023 • GlobeNewswire Inc. • 04/04/2024 10:50:12 PM
- Grupo Aeroportuario del Pacifico Announces Issuance of Bond Certificates in Mexico for Ps. 3.0 Billion • GlobeNewswire Inc. • 03/20/2024 10:23:31 PM
- Grupo Aeroportuario del Pacifico Reports in February 2024 A Passenger Traffic Increase of 1.7% Compared to 2023 • GlobeNewswire Inc. • 03/05/2024 09:22:08 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/29/2024 10:12:39 PM
- Grupo Aeroportuario Del Pacifico Announces Annual General Ordinary And Extraordinary Shareholders’ Meeting • GlobeNewswire Inc. • 02/29/2024 09:41:36 PM
- Grupo Aeroportuario del Pacifico Announces Results for the Fourth Quarter of 2023 • GlobeNewswire Inc. • 02/27/2024 12:27:17 AM
- Grupo Aeroportuario del Pacifico Reports in January 2024 a Passenger Traffic Decrease of 0.6% Compared to 2023 • GlobeNewswire Inc. • 02/07/2024 12:20:25 AM
- Grupo Aeroportuario del Pacifico Announces Growth Guidance for the Full Year 2024 • GlobeNewswire Inc. • 01/19/2024 10:27:36 PM
- Grupo Aeroportuario del Pacifico Reports in December 2023 a Passenger Traffic Increase of 2.2% Compared to 2022 • GlobeNewswire Inc. • 01/05/2024 09:09:59 PM
- Grupo Aeroportuario del Pacifico Reports in November 2023 a Passenger Traffic Increase of 0.7% Compared to 2022 • GlobeNewswire Inc. • 12/06/2023 12:33:51 AM
- Grupo Aeroportuario del Pacifico Announces the Payment Date of the Fourth and Final Installment of the Dividend Approved at the Ordinary Shareholder's Meeting • GlobeNewswire Inc. • 11/30/2023 10:33:11 PM
- Grupo Aeroportuario del Pacifico Announces the Drawdown of Ps. 1.5 billion From a Credit Facility • GlobeNewswire Inc. • 11/08/2023 12:24:44 AM
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM