ArcPacific Resources Closes Private Placement
ArcPacific Resources Closes Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - December 29, 2021) -
ArcPacific Resources Corp.
(
TSXV: ACP
) (the "
Company
") is pleased to announce it has closed a non-brokered private placement
of flow-through units (the "FT Offering") and non-flow-through units (the "NFT Offering") (together, the FT
Offering and NFT Offering are the "Private Placement") for combined gross proceeds of $200,000.05 as
set out below.
Non-Flow-Through Offering
The Company has issued 2,000,000 non-flow-through units (the "Units") at a price of $0.05 per Unit for
gross proceeds of up to $100,000. Each Unit consists of one non-flow-through common share in the
capital of the Company and one half of one non-flow-through common share purchase warrant (with two
half warrants being "Warrant"). Each whole Warrant will entitle the holder to purchase one additional non-
flow-through common share in the capital of the Company at an exercise price of $0.07 per common
share for a period of two years from the date of issuance.
Flow-Through Offering
The Company has issued 1,333,334 units (the "FT Units") at a price of $0.075 per FT Unit for gross
proceeds of $100,000.05. Each FT Unit consists of one flow-through common share in the capital of the
Company (the "Flow-Through Shares") and one half of one non-flow-through common share purchase
warrant (with two half warrants being a "Warrant"). Each whole Warrant will entitle the holder to purchase
one additional non-flow-through common share in the capital of the Company at an exercise price of
$0.10 per common share for a period of two years from the date of issuance. The Flow-Through Shares
will qualify as flow-through shares for purposes of the Income Tax Act (Canada).
All securities issued in the Private Placement are subject to a four-month and one day hold period that
expires on April 24, 2022.
The gross proceeds of the Private Placement will be used to fund exploration expenditures on the LMSL
Project and for general working capital purposes. Finder's fees of $16,000 cash and 333,333 brokers
warrants to purchase 200,000 Units at $0.05 (each Unit is comprised of one common share and one half
of one common share purchase warrant; two half warrants will entitle the holder to purchase one
additional common share at $0.07) and 133,333 Units at $0.075 (each Unit is comprised of one
common share and one half of one common share purchase warrant; two half warrants will entitle the
holder to purchase one additional common share at $0.10) were paid to qualified parties.
About ArcPacific Resources Corp.
ArcPacific Resources Corp. (TSXV: ACP) is a Canadian based exploration company expanding the
exploration initiative at multiple historic past producing gold and silver mines in the Timmins Gold Camp,
Ontario, and in the Nicola Mining Division in Southern British Columbia. The Company is focused on
creating shareholder value through new discoveries and strategic development of its mineral properties.
For further information, please visit
http://www.arcpacific.ca
.
ON BEHALF OF THE BOARD OF DIRECTORS
/S "Adrian Smith"
CEO and Director
The forward-looking statements contained in this press release are made as of the date hereof and
ArcPacific Resources Corp. undertakes no obligations to update publicly or revise any forward-
looking statements or information, whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For further information, please contact us at
or 1.778.331.3816.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/108654