Pacton Gold Closes $2.1 Million Flow-Through Private Placement Led by Sprott Asset Management L.P.
TSX VENTURE: PAC
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VANCOUVER, Dec. 14, 2018 /CNW/ - Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the "Company" or "Pacton") is pleased to announce the closing of a flow-through private placement of 5,881,470 flow-through common shares (the "FT Shares") for total gross proceeds of $2,058,515. The lead order is for $1,998,500 from Sprott Asset Management L.P. as sub-advisor for NINEPOINT 2018-II FT LP, who subscribed for 5,710,000 FT Shares.
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 placement will be subject to a four month hold period from the date of issue in accordance with applicable securities laws. The placement is subject to final acceptance of the TSX Venture Exchange.
On Behalf of the Board of Pacton Gold Inc.
R. Dale Ginn
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.