Pacton Enters into Definitive Agreement on the Friendly Creek exploration license and mining leases
VANCOUVER, British Columbia, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Pacton Gold Inc. (TSXV: PAC) (the “Company” or “Pacton”) is pleased to announce that further to the binding letter of intent (“LOI”) signed earlier this year (see news release dated May 28, 2018) the Company has finalized and entered into a Tenement Sale Agreement (“Agreement”) to acquire 100% of the Friendly Creek portfolio, comprising of one exploration license and five mining leases (“Friendly Creek”) from Gardner Mining Pty Ltd and Darren White (“Vendors”).
Agreement Terms
Under the terms of the Agreement, the Company through its wholly-owned Australian subsidiary will purchase a 100% ownership interest in Friendly Creek by issuing to the Vendors 2,500,000 common shares of Pacton.
The Agreement is subject to TSX Venture Exchange acceptance.
About Pacton Gold
Pacton Gold (PAC: TSXV; PACXF: US) is a well-financed Canadian junior with key strategic partners focused on the exploration and development of conglomerate-hosted gold properties located in the district-scale Pilbara gold rush in Western Australia. The Company recently raised approximately $5.5 million, currently controls the third largest conglomerate-hosted gold property portfolio totaling in excess of 2,500 km2 and continues to aggressively review additional accretive acquisitions.
On Behalf of the Board of Pacton Gold Inc.
Alec Pismiris
Interim President & CEO
For more information, please contact 1-(855)-584-0258 or info@pactongold.com.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.