Pacton Gold receives Regulatory Approval to Purchase 100% of Arrow (Pilbara) Pty. Ltd.
VANCOUVER, British Columbia, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton”) is pleased to announce that the TSX Venture Exchange has accepted for filing a share purchase agreement dated August 20, 2018, between Pacton and Arrow Minerals Ltd. (“Arrow”), whereby Pacton will acquire the remaining 49% interest in Arrow (Pilbara) Pty Ltd. Consideration is $1 million cash and two million common shares.
Pacton’s news releases dated April 5 and August 22, 2018, describe the terms of the acquisition and provide a descriptive overview of the Arrow property assets. The August 22, 2018, news releases summarizes the highlights of the approved 100% acquisition of Arrow (Pilbara) Pty Ltd., including:
- Securing 100% ownership of strategic land holdings totaling 609 km2;
- Located in central Pilbara Mallina Basin, containing large exposures of the Mount Roe Basalt formation;
- Recent discovery of gold nuggets on property;
- Seven conglomerate gold targets have been identified for exploration;
- Gold anomalies identified along structures which host gold mineralization on adjacent properties;
- Directly adjacent and proximal to key exploration properties controlled by Novo Resources Corp. (Egina project), De Grey Mining Ltd., and Kairos Minerals Ltd. (Croydon project).
About Pacton Gold
Pacton Gold (TSXV: PAC, OTC: PACXF) 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.
Dominic Verdejo
Chairman
For more information, please contact 1-(855)-584-0258 or 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. References to other issuers with nearby projects is for information purposes only and there are no assurances the Company will achieve similar results.
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.
