Offering finances core drilling at Newton bulk tonnage gold project
By Devika Patel
Knoxville, Tenn., Dec. 15 - Amarc Resources Ltd. said it will sell 10 million common shares in a private placement of stock. The company plans to take in C$7.5 million.
It will sell two types of shares, with the flow-through common shares priced at C$0.80 and the remaining common shares priced at C$0.65. About 60% of the stock will be flow-through shares. The price per flow-through share is a 23.08% premium to the Dec. 14 closing share price of C$0.65, which is identical to the price per common share.
Proceeds will be used to advance core drilling activities at Amarc's Newton bulk tonnage gold project and to test copper-molybdenum porphyry targets defined within the Plateau Gold-Copper Belt.
Amarc is a Vancouver, B.C.-based gold and copper exploration company.
| Issuer: | Amarc Resources Ltd.
|
| Issue: | Common shares, flow-through common shares
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| Amount: | C$7.5 million
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| Shares: | 10 million
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| Warrants: | No
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| Pricing date: | Dec. 15
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| Stock symbol: | TSX Venture: AHR
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| Stock price: | C$0.65 at close Dec. 14
|
| Market capitalization: | C$57.75 million
|
|
|
| Flow-through shares
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| Price: | C$0.80
|
|
|
| Common shares
|
| Price: | C$0.65
|
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