RE:Dale Ginn is a serial loserPeterThomas wrote: anyone who buys stock in a company he is remotely involved with deserves to lose everything. And that is how it usually happens.
AND THE DILUTIONS KEEP COMING IN AHEAD OF DRILL RESULTS with his successor :
Pacton Arranges $3m Financing
Vancouver, British Columbia, December 7, 2020 – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the “
Company” or “
Pacton”) is pleased to announce that it has arranged, subject to regulatory approval, a private placement of 2,000,000 flow-through shares (each a “
FT Share”) at $1.00 per FT Share for total gross proceeds of $2,000,000 and a private placement of 1,111,111 units (each a “
Unit”) at $0.90 per Unit for total gross proceeds of $1,000,000 (the “
Placements”). Each Unit consists of one common share of the Company and one transferable share purchase warrant (a “
Warrant”), each warrant exercisable into one additional common share at a price of $1.25 per share. The Warrants will be exercisable for two years from the date of issue, provided that if the common shares of the Company trade on the TSX Venture Exchange at a price of $1.75 or more for 10 consecutive trading days at any time (the “
Acceleration Event”), then the Warrants will expire, subject to the Company’s discretion, on the earlier of the expiry date and 4:30 p.m. (Vancouver time) on the date that is 30 calendar days after the Company provides notice to the holders of the Warrants that the Acceleration Event has occurred.
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). The proceeds from the issuance of Units will be used for general working capital.
Finders’ fees may be payable in whole or in part on the Placements, pursuant to the policies of the TSX Venture Exchange.
All securities issued under the Placements will be subject to regulatory hold periods expiring four months from the date of issue.
The Placements are subject to the approval of the TSX Venture Exchange.
About Pacton Gold Pacton Gold is a Canadian exploration company with key strategic partners focused on the exploration and development of high-grade gold properties located in the Red Lake gold rush in Ontario, Canada. The Company also owns a strategic portfolio of prospective projects in the district-scale Pilbara gold rush in Western Australia.
On Behalf of the Board of Pacton Gold Inc.
Nav Dhaliwal
Interim President and CEO