Mr. Warren McIntyre reports
ARCO RESOURCES ANNOUNCES FINANCING
Arco Resources Corp. will conduct a non-brokered private placement of up to four million units in the capital of the company for gross proceeds of up to $200,000, subject to the approval of the TSX Venture Exchange. Each unit is priced at five cents and will consist of one common share and one common share purchase warrant, with each warrant exercisable to purchase one additional common share of the company at a price of 15 cents for a period of 18 months from the date of issue. All shares issued pursuant to the offering or 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. The company 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.
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