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ArcPacific Resources Corp. Announces First Closing of Non-Brokered Private Placement

NEWS RELEASE

TSX Venture Exchange Symbol: ACP

December 31st, 2019

Vancouver, BC – ArcPacific Resources Corp. (“ACP” or “the Company”) (TSX-V: ACP) is pleased to announce the closing of its non-brokered private placement of 2,600,000 units of the Company at C$0.05 per unit for gross proceeds of $130,000. Each unit consists of one common share of the Company (a “Common Share”) and one half of one warrant of the Company with a whole warrant entitling the holder to purchase one Common Share at $0.10 for a period of two years. The units are subject to a four month hold period expiring May 1, 2020. The Company will continue to raise up to C$1,000,000 by way of a non-brokered private placement pursuant to the news release dated on November 18th,, 2019 and December 11th, 2019 subject to the final acceptance of TSX Venture Exchange.

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 www.arcpacific.ca

ON BEHALF OF THE BOARD

“R. S. Verzosa”

Ruben S. Verzosa,P.Eng., Director

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OFTHIS NEWS RELEASE.

 ALL STATEMENTS, ANALYSIS AND OTHER INFORMATION CONTAINED IN THIS PRESS RELEASE ABOUT ANTICIPATED FUTURE EVENTS OR RESULTS CONSTITUTE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKINGSTATEMENTS ARE OFTEN, BUT NOT ALWAYS, IDENTIFIED BY THE USE OF WORDS SUCH AS “SEEK”,“ANTICIPATE”, “BELIEVE”, “PLAN”, “ESTIMATE”, “EXPECT” AND “INTEND” AND STATEMENTS THAT AN EVENTOR RESULT “MAY”, “WILL”, “SHOULD”, “COULD” OR “MIGHT” OCCUR OR BE ACHIEVED AND OTHER SIMILAREXPRESSIONS. FORWARD-LOOKING STATEMENTS ARE SUBJECT TO BUSINESS AND ECONOMIC RISKS ANDUNCERTAINTIES AND OTHER FACTORS THAT COULD CAUSE ACTUAL RESULTS OF OPERATIONS TO DIFFERMATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKINGSTATEMENTS ARE BASED ON ESTIMATES AND OPINIONS OF MANAGEMENT AT THE DATE THE STATEMENTS AREMADE. INVESTORS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS