Mr. Warren McIntyre reports
ARCO RESOURCES ANNOUNCES FINANCING
Arco Resources Corp. will conduct a non-brokered private placement of up to 12 million units in the capital of the company for gross proceeds of up to $600,000, subject to the approval of the TSX Venture Exchange.
Each unit will be priced at five cents, and will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will be exercisable to purchase one additional common share of the company at a price of 25 cents for one year from the date of issue. All shares issued pursuant to this offering and any shares issued in connection with the exercise of the warrants will be subject to a four-month-and-one-day hold period from the date of issuance, in accordance with exchange policies and applicable securities laws. Arco will pay qualified parties finders' fees, subject to the policies and approval of the exchange. The proceeds of the private placement will be used for working capital.
We seek Safe Harbor.
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