Pacton Gold Announces $4 million Private Placement
Momentum Public Relations
Press Release: April 23 2018
Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton“) is pleased to announce that it has entered into an agreement with Sprott Capital Partners to act as lead agent (the “Lead Agent“), on its own behalf and, if applicable, on behalf of a syndicate of agents (collectively with the Lead Agent, the “Agents“), in connection with a marketed private placement of up to 17,400,000 Units (hereinafter defined) of the Company, at a price of $0.23 per Unit, for gross proceeds of up to $4,002,000 (the “Offering“).
Each Unit will consist of one common share of the Company (a “Common Share“) and one transferable common share purchase warrant (a “Warrant“)(collectively, a “Unit“). Each Warrant will entitle the holder to acquire one Common Share for a period of three years from the date of issue at a price of $0.35.
In connection with the Offering, the Agents will be entitled to a cash fee in an amount equal to 6.0% of the gross proceeds of the Offering. As additional consideration, the Company will grant to the Agents that number of Agent Units (hereinafter defined) that equals 6.0% of the aggregate number of Units placed by the Agents in the Offering. Each “Agent Unit” will consist of one Common Share and one non-transferrable common share purchase warrant (“Agent Warrants“). Each Agent Warrant will permit the purchase of one Common Share for three years from the Closing Date at C$0.35.
The net proceeds from the Offering will be used for exploration work to be conducted on the Company’s properties in Canada and Australia and for general working capital. All of the securities sold pursuant to the Offering will be subject to a four month hold period which will expire four months and one day from the date of issue in accordance with applicable securities laws. The Offering is subject to acceptance of the TSX Venture Exchange.
The Offering may close in one or more tranches, with a final closing no later than May 22, 2018 or such other date or dates as the Company and the Lead Agent may agree.
ON BEHALF OF THE BOARD OF DIRECTORS,
Alec Pismiris
Interim President & CEO
Neither the TSX Venture Exchange nor its 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act“) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
This news release includes certain forward-looking statements concerning the use of proceeds of the Offering, the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the future tax treatment of the Flow-Through Shares, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
SOURCE Pacton Gold Inc.
View original content: http://www.newswire.ca/en/releases/archive/April2018/23/c8737.html
Contact:
please contact 1-(855)-584-0258 or dom@pactongold.com.
- Published in Pacton Gold Inc., Uncategorized
Pacton Gold Receives TSX Venture Exchange Acceptance to CTTR Gold Pty Ltd. Acquisition
Momentum Public Relations
Press Release: April 3 2018
Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the ” Company ” or ” Pacton “) is pleased to announce that further to its news release of February 26, 2018, it has received TSX Venture Exchange acceptance for an option to acquire 100% of the issued and outstanding shares of CTTR Gold Pty Ltd (” CTTR “). CTTR holds applications to nine tenement licenses for a strategic mineral property group (the ” Property “) in the Pilbara Region of Western Australia. The 492 km 2 Property is an advanced gold project portfolio that will target conglomerate gold occurences within the eastern extension of the Pilbara conglomerate gold play. One priority will be to explore for a northern extension of DeGrey’s Mallina Basin occurences that include 5 to 80 m thick gold nugget conglomerate beds at Loudens Patch, Jarret Well and Steel Well.
See property map at http://pactongold.com/Pacton_Aus_Regional_Fig1.pdf .
Pacton has commenced compiling and reviewing historical reports and data on the Property and collating other available datasets prior to planning a first-pass field evaluation programme, which will likely comprise of detailed mapping to define key stratigraphic units, rock-chip, soil and stream sediment sampling and metal detecting.
Pacton intends to initiate negotiations with the relevant Native Title representative bodies, representing an intergral step towards the Company’s tenement license applications being granted by the Department of Mines, Industry Regulation and Safety. The Company will commence the heritage notice process to allow for tenure to be cleared for on-ground exploration activities.
Under the terms of the agreement with CTTR, the Company paid $75,000 and issued 916,666 common shares and 458,333 share purchase warrants. Each warrant is exercisable into one common share for a period of 18 months from the date of issue at a price of $0.45 per share.
Upon grant of six key exploration licenses, the Company must pay a further $50,000 and issue 416,666 common shares and 208,333 share purchase warrants. Each warrant will be exercisable into one common share for a period of 18 months from the date of issue with an exercise price equal to 150% of the 5-day trading volume weighted average price of the Company’s shares, subject to a floor price of not less than the $0.24.
All monetary amounts referred to herein are in Canadian currency.
The Company issued 156,250 common shares to COMVERJ Pty Ltd. as a finder’s fee with respect to the transaction.
The Company also announces that further to its news release of March 14, 2018, it has issued 1,833,333 common shares in payment of outstanding debt and confirms that debt of $550,000 has now been extinguished.
About Pacton Gold
Pacton Gold Inc. (TSXV: PAC) is a Canadian junior exploration company focused on acquiring, exploring and advancing mineral assets in key mining friendly locations globally.
On Behalf of the Board of Pacton Gold Inc.
Alec Pismiris
Interim President & CEO
For more information, please contact 1-(855)-584-0258 or dom@pactongold.com .
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited the prospect of the Company achieving success in exploring the Property and the impact on the Company of these event, including the effect on the share prices. References to other companies with proximal exploration properties in the Pilbara region is for information only and there are no assurances that the Company will achieve results similar to other companies in the region. 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 .
- Published in Pacton Gold Inc.