By Devika Patel
Knoxville, Tenn., Jan. 15 - Amarc Resources Ltd. said it completed a C$5.5 million private placement of stock. The deal priced for C$5 million Dec. 18 and the company added a C$500,000 greenshoe on Dec. 23.
The company sold 11 million common shares at C$0.50 apiece. Of the shares, 1 million were part of the fully exercised greenshoe and 4.8 million of the shares were flow-through.
Proceeds will be used for exploration.
Amarc is a Vancouver, B.C.-based mineral exploration and development company.
| Issuer: | Amarc Resources Ltd.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$5.5 million (including C$500,000 greenshoe)
|
| Shares: | 11 million (including 4.8 million flow-through shares)
|
| Price: | C$0.50
|
| Warrants: | No
|
| Pricing date: | Dec. 18
|
| Revised: | Dec. 23
|
| Settlement date: | Jan. 15
|
| Stock symbol: | TSX Venture: AHR
|
| Stock price: | C$0.53 at close Dec. 18
|
| Market capitalization: | C$48.1 million
|
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