Mr. John MacPhail reports
PACIFIC ARC CLOSES $170K FINANCING
Further to its press release dated Jan. 14, 2020, Pacific Arc Resources Ltd. has closed its
non-brokered private placement of one million common shares at a price of 17 cents, raising gross proceeds of $170,000.
Cash finders' fees to arm's-length parties, totalling $1,610, were paid on a portion of the private placement. The shares issued under the private placement will be subject to a four-month hold period, which expires on July 13, 2020.
The net proceeds from the private placement will be used for general corporate purposes and other general/administrative expenses, including legal and accounting fees, that the company estimates it will incur as it reviews business opportunities.
We seek Safe Harbor.
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