Vancouver (pcJ News Briefs) – Noka Resources Inc. (TSX-V: NX; OTC Grey Market: NOKAF; FSE: 2NKN) has completed previously announced private placement of 7,228,571 shares at $0.07 per share for gross proceeds of $506,000. Noka Resources also announced its board of directors has approved name change to Pacton Gold Inc.
“With the price of gold up 12% year-to-date, 2017 will be a transformational year for Noka as we focus on gold and our newly acquired strategic properties in Ontario, respectively the Tully West Gold Property, the Birch Gold Property, and the Uchi Gold Property. We will be mobilizing our exploration team in the next couple weeks to initiate our spring drill program at the Tully West Gold Property, where historical drilling by SGX Resources Inc. intersected 36.7 g/t gold over 6.3 meters in drill hole #13-38,” commented Dominic Verdejo, President and CEO of Noka Resources.
Noka Resources issued 28,000 shares and paid $14,770 in finders’ fees on the placement.
Proceeds from the private placement will be used to fund ongoing exploration and for general working capital.
Noka Resources Inc. is a Canadian junior exploration company currently advancing exploration activity on the Birch and Uchi Gold Properties adjacent to the Springpole Gold Deposit (controlled by First Mining Finance (TSX-V: FF)) in the Red Lake Gold District of western Ontario and the Tully West Gold Property located northeast of Timmins, Ontario.
photo credit: Noka Resources