Canarc Arranges CAD$1.44 Million Flow-Through Private Placement Financing
News Release
Canarc Arranges CAD$1.44 Million Flow-Through Private Placement
Financing
Vancouver, Canada –July 24, 2019 – Canarc Resource Corp. (TSX: CCM, OTC -QB: CRCUF,
Frankfurt: CAN) (“Canarc” or the “Company”) announces that it has arranged and closed a non-
brokered private placement of flow-through common shares (“FT Shares”) for aggregate gross
proceeds to the Company of CAD$1.44 million (the “Offering”). The Company has issued an
aggregate of 23,729,856 FT Shares pursuant to the Offering , 17,333,333 of which were issued
at a purchase price of $0.06 per FT Share and the balance of 6,396,523 were issued at a purchase
price of $0.0625 per FT Share. Canarc has already received conditional approval by the TSX.
An accomplished investor in the global resource sector became the ultimate owner of all the FT
Shares issued in the Offering , other than 528,000 FT Shares, which were subscribed for by a
Director of Canarc.
Scott Eldridge, Canarc’s CEO, stated: “We are pleased to have completed this financing and we look
forward to conducting further exploration work on our newly acquired Canadian projects. In
particular, our Hard Cash and Princeton gold projects have district-scale gold discovery potential
where field work is currently underway on both projects.”
Canarc will use the p roceeds from the Offering to fund its exploration projects in Canada ,
including the Princeton and Hard Cash properties . In accordance with applicable Canadian
securities laws, the FT Shares will be subject to a four month hold period expiring on November
24, 2019.
After the closing of the Offering, 242,085,000 common shares of the Company are outstanding.
In connection with the Offering, the company paid cash finders' fees to BlackBridge Capital
Management Corp. of $91,440 and also issued them 1.508 million non -transferable finder's
warrants, with each finder's warrant being exercisable to acquire one commo n share of the
company at an exercise price of $0.06 cents until July 23, 2021.
ON BEHALF OF THE BOARD OF DIRECTORS
"Scott Eldridge”
CANARC RESOURCE CORP .
810-625 Howe Street
Vancouver, BC V6C 2T6
T: 604.685.9700
F: 604.6685 -9744
www.canarc.net
CCM: TSX
CRCUF: OTCQ B
____________________
Scott Eldridge, Chief Executive Officer
CANARC RESOURCE CORP.
About Canarc - Canarc Resource Corp. is a growth-oriented gold exploration company focused
on generating superior shareholder returns by discovering, exploring and developing strategic
gold deposits in North America. The Company is currently advancing two core assets, each with
substantial gold resources, and has initiated a high impact exploration strategy to acquire and
explore new properties that have district -scale gold discovery potential. Canarc shares trade
on the TSX: CCM and the OTCQB: CRCUF.
For More Information - Please contact:
Scott Eldridge, CEO
Toll Free: 1-877-684-9700 Tel: (604) 685-9700 Cell: (604) 722-5381
Email: [email protected] Website: www.canarc.net
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward -looking statements” within the meaning of the United States Private Securities Litigation
Reform Act of 1995 and “forward -looking information” within the meaning of applicable Canadian securities legislation.
Statements contained in this news release that are not historic facts are forward -looking information that involves known and
unknown risks and unc ertainties. Forward -looking statements in this news release includ e, but are not limited to the use of
proceeds of the Offering. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "has
proven", "expects" or "does not expect", "is expected", "potential", "appears", "budget", "scheduled", "estimates", "forecasts", "at
least", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achi evements of the Company to be materially different from any future results, performance or achievements
expressed or implied by the forward -looking statements. Such risks and other factors include, among others , risks related to the
state of financial mark ets, risks related to regulatory approval, risks related to the uncertainties inherent in the estimation of
mineral resources; commodity prices; changes in general economic conditions; market sentiment; currency exchange rates; the
Company's ability to continue as a going concern; the Company's ability to raise funds through equity financings; risks inherent in
mineral exploration; risks related to operations in foreign countries; future prices of metals; failure of equipment or proce sses to
operate as anti cipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental
approvals; government regulation of mining operations; environmental risks; title disputes or claims; limitations on insuranc e
coverage and the timi ng and possible outcome of litigation. Although the Company has attempted to identify important factors
that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward-
looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward -looking statements will prove to be accurate, as actual results and future events could
differ materiall y from those anticipated in such statements. Accordingly, do not place undue reliance on forward -looking
statements. All statements are made as of the date of this news release and the Company is under no obligation to update or a lter
any forward-looking statements except as required under applicable securities laws.