Each Unit consists of one common share and one transferrable share purchase warrant, each warrant exercisable into one additional common share for a period of two years from closing at a price of
In total (tranche one and tranche two), the Company issued 31,737,584 flow-through common shares (the 'FT Shares') at a price of
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 (
For its efforts in finding certain placees, the Company made cash payments totaling
All securities issued under the placements 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 V.
Contact:
Tel: 1-(855)-584-0258
Email: info@pactongold.com
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to the Company achieving success in exploring its properties and the impact on the Company of these events, including the effect on its share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.
(C) 2020 Electronic News Publishing, source