Update on the Financing
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TSX Venture Exchange Symbol: ACP February 10, 2020
Update on the Financing
Vancouver, BC – ArcPacific Resources Corp. (“ACP” or “the Company”) (TSX-V: ACP) wishes to announce the continuation of the financing for its proposed LNG business pursuant to the news release dated January 17th, 2020. ACP intends to raise further capital of up to $700,000, by way of a non- brokered private placement (the “Offering”) of units (“Units”) at $0.07 per Unit. Each Unit consists of one common share (a “Common Share”) of the Company and one half of one warrant (a “Warrant”) of the Company to purchase one Common Share. Each whole Warrant entitles the holder to purchase one Common Share within two years from the Closing Date (as hereinafter defined) of the Offering at a price of $0.12 per Common Share.
The closing for the Offering is expected to close on or about February 17, 2020 (the “Closing Date”) but may close earlier or later or not at all. Finder’s fees may be paid on part of the financing. The terms of the financing remain the same and closing of the offering is subject to TSX Venture Exchange final acceptance.
About ArcPacific
ArcPacific Resources Corp. (TSX-V: ACP) is a Canadian based company with a project generator business model. Although the Company’s primary business focus since formation has been the exploration of mineral properties, it is now seeking new business opportunities that offer the potential for near term cash flow to create shareholder value. For further information, please visit http://www.arcpacific.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
/S/’Ruben Verzosa”
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 [email protected] or 1.778.318.3816.
ARCPACIFIC RESOURCES CORP.