Pacton Appoints New Interim President and CEO
Vancouver, British Columbia, December 2, 2020 – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the “Company” or “Pacton”) is pleased to announce that Nav Dhaliwal has been appointed Interim Chief Executive Officer and President of the Company. Mr. Dhaliwal has also been appointed to the Board of Directors. Outgoing interim CEO and President, Mr. Alec Pismiris, will remain as a director of the Company.
Nav Dhaliwal, Interim President and CEO of Pacton, commented, “With neighboring projects that include three gold mines, as well as Great Bear’s Dixie discovery, Pacton has one of the most dominant land positions in Red Lake. We have a clear opportunity for growth and recently commenced drilling on two projects, including one in partnership with the region’s senior producer – Evolution Gold. I look forward to working closely with our team and providing shareholders with regular progress updates.”
Dale Ginn, Executive Chairman of Pacton, added, “The management change reflects our greater focus on our two Red Lake projects, and we look forward to aggressively following up on our new targets with increased drilling.”
Nav Dhaliwal is a high-profile mining executive, financier, and capital markets expert with a long running track record of value creation. He was the founding CEO of Bonterra Resources, which made the award-winning Gladiator discovery in Quebec. Mr. Dhaliwal raised over $140M for Bonterra and played a key role in the company’s market cap growth from $10M to over $200M during the base of the gold market cycle. He has founded several other successful companies in the resource sector, including Kanadario Gold, Gatling Exploration and Pacton Gold. Mr. Dhaliwal is also the co-founder of the highly successful RSD Capital which invests in, and provides management and technical expertise to, public and pre-IPO companies. Mr. Dhaliwal has a large, international network of financial connections, including numerous analysts, brokers, high net worth investors and investment bankers. He works closely with all of the major gold funds and has raised over $400M for companies since 2010.
The Company’s annual general meeting is scheduled for December 15, 2020 (the “Meeting”). With the announcement of Nav Dhaliwal as a director, management advises that the at the Meeting, the number of directors to be set for the coming year, will be increased from 5 directors to 6 directors, by way of a motion made at the meeting. Any votes FOR the number of directors to be set at 5 (in a deposited proxy) will be voted for setting the number of directors at 6, unless the proxy contains specific instructions otherwise.
With the 6 director positions expected to be approved, management will nominate Mr. Dhaliwal as one of the management nominees for the 6 director positions. The management proxyholders intend to vote FOR Mr. Dhaliwal’s election as a director unless the proxy contains specific instructions otherwise to withhold such vote.
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.
For more information, please contact 1-(855)-584-0258 or [email protected].
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.
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