Mr. Dale Ginn
reports
PACTON GOLD CLOSES $2.1 MILLION FLOW-THROUGH PRIVATE PLACEMENT LED BY SPROTT ASSET MANAGEMENT L.P.
Pacton Gold Inc. has closed a flow-through private placement of 5,881,470 flow-through common shares for total gross proceeds of $2,058,515. The lead order is for $1,998,500 from Sprott Asset Management LP as subadviser for Ninepoint 2018-II FT LP, which subscribed for 5.71 million flow-through shares.
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).
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.
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