Pacton Gold sells remaining 25% interest in Arrow, Yandicoogina and Boodalyerrie properties in the Pilbara, WA

Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXF) has sold the remaining 25% interest it holds in three properties in the Western Pilbara. The company has struck an asset sale agreement with Pilbara Gold Corporation Pty Ltd (PGC) and Raiden Resources (in which Pacton holds shares), whereby PGC will buy 25% of the Arrow, Yandicoogina and Boodalyerrie gold properties. Raiden Resources (ASX:RDN) Limited recently acquired all the shares of PGC. READ: Pacton Gold outlines exploration plans for the year at its Sidace and Red Lake gold projects "As part of our increasing focus on our active projects in the Red Lake gold rush in Ontario, we have agreed to divest some of our Western Australia gold projects," said Nav Dhaliwal, Pacton's interim CEO, in a statement. "As a substantial shareholder of Raiden Resources - the purchaser - Pacton will retain an indirect interest in all three projects, and we wish Raiden's team every success as they explore and advance these highly prospective properties." Raiden will pay A$200,000 to Pacton and issue it with shares worth A$1 million, based on the volume weighted average price of Raiden shares over 20 consecutive trading days from the deal's execution. Pacton completed the sale of a 75% interest in the same Australian properties to the same parties in February, 2021. Contact the author at giles@proactiveinvestors.com