$5.24-million placementAmarc Resources completes $5.24-million placement
Amarc Resources Ltd (C:AHR)
Shares Issued 52,459,473
Last Close 1/25/2007 $0.43
Friday January 26 2007 - News Release
Mr. Ronald Thiessen reports
AMARC COMPLETES $5.245 MILLION FINANCING
Amarc Resources Ltd., further to news in Stockwatch Dec. 22, 2006, has completed the previously announced private placement financing and has issued 10.49 million units at a price of 50 cents per unit for gross proceeds of $5,245,000. The units comprise 4.49 million flow-through units, each consisting of a flow-through common share and a non-flow-through warrant, and six million units, each consisting of a common share and a warrant. Each warrant is exercisable to purchase an additional common share at a price of 55 cents for a 24-month period. The units are subject to a four-month hold period under applicable Canadian securities legislation.
Proceeds from the offering will be used for Canadian exploration expenses, general corporate and working capital purposes. The company has agreed with Rockwell Ventures Inc., a company associated with Amarc by virtue of four common directors and certain principal shareholders in common, to lend $5.5-million to Rockwell for a 90-day period. The loan has been personally guaranteed by the common directors and it will earn interest at 20 per cent per year.