Pacton

Below is a Pacton news release about ES/KL buying a potentially controlling interest in property sitting between De Grey Indee and KAI.  ES/KL now has large interest in a continuous arc of land that it believes hosts gold bearing conglomerates around De Grey.  If the conglomerate gold turns out to be economical to mine, ES will buy all 3 companies.  IMO reason for the delay in releasing Purdy's and Comet Wells results is to allow ES time to identify additional properties he wants to invest in.  Question now is: is ES done investing and results will be released on time or will Novo continue to stall while ES make more deals.

PACTON GOLD ANNOUNCES $4 MILLION PRIVATE PLACEMENT

Vancouver, BC – April 23, 2018 – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton”) is pleased to announce that it has entered into an agreement with Sprott Capital Partners to act as lead agent (the “Lead Agent”), on its own behalf and, if applicable, on behalf of a syndicate of agents (collectively with the Lead Agent, the “Agents”), in connection with a marketed private placement of up to 17,400,000 Units (hereinafter defined) of the Company, at a price of $0.23 per Unit, for gross proceeds of up to $4,002,000 (the “Offering”).
Each Unit will consist of one common share of the Company (a “Common Share”) and one transferable common share purchase warrant (a “Warrant”)(collectively, a “Unit”). Each Warrant will entitle the holder to acquire one Common Share for a period of three years from the date of issue at a price of $0.35.
In connection with the Offering, the Agents will be entitled to a cash fee in an amount equal to 6.0% of the gross proceeds of the Offering.  As additional consideration, the Company will grant to the Agents that number of Agent Units (hereinafter defined) that equals 6.0% of the aggregate number of Units placed by the Agents in the Offering.  Each “Agent Unit” will consist of one Common Share and one non-transferrable common share purchase warrant (“Agent Warrants”).  Each Agent Warrant will permit the purchase of one Common Share for three years from the Closing Date at C$0.35.
The net proceeds from the Offering will be used for exploration work to be conducted on the Company’s properties in Canada and Australia and for general working capital.  All of the securities sold pursuant to the Offering will be subject to a four month hold period which will expire four months and one day from the date of issue in accordance with applicable securities laws. The Offering is subject to acceptance of the TSX Venture Exchange.
The Offering may close in one or more tranches, with a final closing no later than May 22, 2018 or such other date or dates as the Company and the Lead Agent may agree.
ON BEHALF OF THE BOARD OF DIRECTORS,
Alec Pismiris