Mr. Warren McIntyre reports
ARCO COMPLETES SHARES-FOR-DEBT TRANSACTIONS
Arco Resources Corp. has completed the shares-for-debt transactions previously announced on June 3, 2015, issuing 2,018,600 common shares at a deemed price of five cents per common share for a negotiated aggregate settlement amount of $100,930. The transactions were completed by way of settlement agreements with certain of its trade creditors, consultants and management to extinguish aggregate debt totalling over $233,000. Insiders receiving shares include Jeff Sheremeta (100,000), Reflex Law Corp. (Mr. Sheremeta) (200,000) and Matrix 1 Capital Corp. (Teresa Rzepczyk) (180,000). The common shares issued pursuant to the settlement agreements are subject to a four-month-plus-one-day hold period from the date of issuance.
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