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Enter Symbol
or Name
USA
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Arco Resources Corp (3)
Symbol ARR
Shares Issued 4,525,523
Close 2016-01-22 C$ 0.03
Market Cap C$ 135,766
Recent Sedar Documents

ORIGINAL: Arco to amend debt settlement to issue 5 million units

2016-01-25 19:09 ET - News Release

Received by email:

File: ARCO News - Arco Provides Corporate & Financing Updates (Jan 252016).docx




ARCO RESOURCES PROVIDES ADDITIONAL CORPORATE AND FINANCING UPDATES
January 25 2016 - Vancouver, BC - Arco Resources Corp. (TSX-V: ARR) ("Arco" or the "Company") provides the following a
--->dditional corporate and financing updates to follow its January 14, 2016 news release, including:  1) confirmation of 
--->the date and location for the Annual General Meeting of shareholders; 2) suspension of the Company's current share opt
--->ion plan; and 3) amendments to the recently-announced debt settlement financing.
Corporate Updates
Annual General Meeting of Shareholders
The Company reports that it has confirmed the date and location for its upcoming Annual General Meeting of Shareholder
--->s ("AGM").  The AGM will be held on March 18, 2016 at 10:00 AM at the offices of the Company at Suite 818 - 700 West G
--->eorgia Street, Vancouver, BC, as reported on SEDAR in a Notice of Meeting and Record Date filed January 18, 2016.  The
---> Company had previously indicated in a news release dated January 14, 2016 that it was considering holding its AGM on 
--->March 11, 2016. 

Suspension of Share Option Plan
The Company reports that by resolution of the board of directors it has suspended its share option plan (the "Plan"), 
--->effective immediately.  There are currently no incentive stock options issued under the Plan, as all previously-existi
--->ng options have either expired or been canceled pursuant to the termination of various consultant and management agree
--->ments or to voluntary cancelation agreements with existing optionholders.  The Company will neither issue nor grant in
--->centive stock options to its management, directors, consultants, or other qualified recipients until the current suspe
--->nded option plan is authorized for reinstatement by the Company and approved by its shareholders.

Financing Update
Amendment to Debt Settlement Terms
The Company reports that it has amended the terms of its proposed debt settlement financing currently in process and w
--->ill now issue units to various debtholders instead of issuing common shares as previously reported in the news release
---> dated January 14, 2016.  The Company now proposes and will apply to the TSX Venture Exchange (the "Exchange") for app
--->roval to issue up to 5,000,000 units (the "Unit") at a price of $0.05 per Unit to settle current liabilities of up to 
--->$250,000 held by several creditors.  Each Unit issued will consist of one common share and one common share purchase w
--->arrant (the "Warrant"), with each Warrant exercisable to purchase one additional common share of the Company at a pric
--->e of $0.075 for a period of eighteen months from the date of issue.  All securities issued pursuant to the debt settle
--->ment transactions 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 Exchange policy.

There is no change to the terms of the unit private placement financing being conducted concurrently with the debt set
--->tlement financing.  

 
About Arco Resources
Arco holds a 100% interest in the Taviche mineral claim block located in the state of Oaxaca, Mexico. 

On behalf of the Board of Directors
"Anthony J. Dutton"
Anthony J. Dutton President & Chief Executive Officer 
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in t
--->he United States. The securities have not been and will not be registered under the United States Securities Act of 19
--->33, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the Unit
--->ed States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or a
--->n exemption from such registration is available.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements.  Forward-looking statements are st
--->atements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", 
--->"anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or 
--->conditions "will", "would", "may", "could" or "should" occur.  Although the Company believes the expectations expresse
--->d in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future
---> performance and actual results may differ materially from those in forward looking statements.  Forward-looking state
--->ments are based on the beliefs, estimates and opinions of the Company's management on the date such statements were ma
--->de.  The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements wh
--->ether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



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