Update on the Financing
TSX Venture Exchange Symbol: ACP
February 10, 2020
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.
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
“R. S. Verzosa”
Ruben S. Verzosa,P.Eng., Director
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