ARCPACIFIC CLOSES NON-BROKERED PRIVATE PLACEMENT
Vancouver, British Columbia – August 23, 2018 – ArcPacific Resources Corp. (the “Company” or “ArcPacific”) (TSX-V: ACP) announces that it has closed a non-brokered private placement of 2,000,000 common shares ("Shares") at a price of $0.05 per Share for gross proceeds of $100,000 (the "Financing").
The Shares issued pursuant to the Financing are subject to a statutory hold period expiring on December 24, 2018 in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws. Proceeds of the Financing will be used for general working capital.
As a result of the Financing, Mr. Dong Han Cho now holds 2,000,000 common shares of the Company, representing approximately 19.3% of the outstanding common shares of the Company.
Depending on market and other conditions, Mr. Cho may from time to time in the future increase or decrease his ownership, control, or direction over the common shares or other securities of the Company, through market acquisitions, private agreements, public offerings, or otherwise. Mr. Cho has no pre-determined intention with respect to any of the foregoing, other than as described herein. A copy of Mr. Cho's related early warning report will be filed with the applicable securities commissions and will be made available on SEDAR at www.sedar.com.
ArcPacific is a Canadian-based company seeking mineral properties with strong exploration potential. Although the Company’s primary business has been the exploration of mineral properties, it will consider other opportunities that offer the potential for near term cash flow. For further information about the Company, please visit http://www.arcpacific.ca.
ON BEHALF OF THE BOARD
“R. S. Verzosa”
Ruben S. Verzosa,P.Eng., Director
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