Less than 1 min.Read

Raiden Resources: Completes purchase of Pilbara gold and nickel portfolio

February 13, 2021

Raiden Resources (RDN) has completed its purchase of a significant gold and nickel portfolio in the Pilbara from Pacton Gold
Located in northern Western Australia, the assets include the Arrow, Boodalyerrie and Yandicoogina gold projects
The company also issued 207 million fully paid ordinary shares to wholly acquire Pilbara Gold Corporation, a subsidiary of Pacton Gold, which holds a 75 per cent stake in the projects
C$500,000 (roughly A$507,290) in cash and a further 129 million shares will issued to Pacton Gold, as well as an additional C$500,000 (roughly A$507,290) on the first anniversary of the transaction
All of the tenements are subject to a 1 per cent net smelter royalty, and all share-based payments are subject to a six-month escrow period
Raiden Resources is currently down 3.85 per cent to 2.5 cents per share