Mr. Anthony Dutton reports
ARCO PROVIDES FINANCING UPDATE
Although Arco Resources Corp. has experienced delays in closing the private placement financing announced in late third quarter 2016, the company is confident of closing on the majority portion of the equity raise early in 2017.
On Sept. 28, 2016, the company announced the placement of up to 20 million common shares in the capital of the company at a price of five cents per common share for gross proceeds of up to $1-million. The offering remains open.
Proceeds from the offering will be used for working capital and general corporate purposes. All securities issued pursuant to the offering will be subject to a hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation and TSX Venture Exchange policy. The company may pay qualified parties finders' fees, subject to the policies and approval of the exchange.
We seek Safe Harbor.
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