Mr. Dale Ginn reports
PACTON COMPLETES SHARE CONSOLIDATION
At market open on Tuesday, June 9, 2020, Pacton Gold Inc.'s common shares will begin trading on a one-for-10 consolidated basis. The company's trading symbol will not change.
There are currently 239,737,950 common shares issued and outstanding. Upon consolidation, there will be approximately 23,973,795 common shares issued and outstanding. The exact number of postconsolidated shares will vary depending on the treatment of fractional shares, which will occur when each shareholder's holdings in the company are consolidated. The company will not issue any fractional common shares as a result of the consolidation. Instead, all fractional shares resulting from the consolidation will be rounded down to the nearest whole number. Outstanding stock options and share purchase warrants will also be adjusted by the consolidation ratio and the respective exercise prices adjusted accordingly.
Registered shareholders will receive a letter of transmittal from the company's transfer agent, Computershare Investor Services Inc., with instructions for exchanging their preconsolidated shares. Shareholders who hold their common shares through a broker or other intermediary and do not have common shares registered in their name, will not need to complete a letter of transmittal.
The board of directors approved the consolidation on May 22, 2020.
About Pacton Gold
Inc.
Pacton Gold is a Canadian exploration company with key strategic partners focused on the exploration and development of high-grade conglomerate and orogenic gold properties located in the district-scale Pilbara gold rush in Western Australia and the Red Lake district, Ontario.
We seek Safe Harbor.
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