Mr. John MacPhail reports
PACIFIC ARC RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO $186,628
Pacific Arc Resources Ltd. has arranged a non-brokered private placement of up to 18,628,710 shares of the company at a price of one cent per share for gross proceeds of up to $186,628.
The private placement is subject to the approval of the TSX Venture Exchange. The securities issued in connection with the private placement will be subject to a four-month hold period, in accordance with applicable securities laws.
The company intends to use the proceeds to satisfy outstanding accounts payable and for general working capital.
About Pacific Arc Resources Inc.
Pacific Arc is a reporting issuer in the provinces of British Columbia, Alberta and Ontario, and is incorporated under the Business Corporations Act (British Columbia).
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