The TSX Venture Exchange has accepted for filing an option agreement dated Nov. 1, 2018, between Pacton Gold Inc. and Frontline Gold Corp. (the vendor), whereby the company may acquire a 100-per-cent interest in 12 mineral claims located in the Red Lake mining district, Ontario. Consideration is $110,000 cash and 250,000 common shares.
The vendor retains a net smelter return (NSR) that ranges from 0.25 per cent to 2.25 per cent. The company has the option to repurchase one-half of the NSR for $250,000 cash.
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