New Issue: Arco wraps C$1.29 million placement of units with C$674,000 tranche

By Devika Patel

Knoxville, Tenn., March 30 - Arco Resources Corp. said it raised C$674,000 in the second tranche of a C$1.29 million non-brokered private placement of units. The deal priced for C$1.5 million on Feb. 11, and Arco raised C$617,500 in the first tranche on March 25.

The company sold 25.83 million units at C$0.05 apiece, with 12.35 million units sold in the first closing and 13.48 million units sold in this tranche. Each unit consists of one common share and one warrant, with each two-year warrant exercisable at C$0.10.

Proceeds will be used for exploration and general working capital.

Arco Resources is a junior natural resource company based in Vancouver, B.C.

Issuer:	Arco Resources Corp.
Issue:	Units of one common share and one warrant
Amount:	C$1,291,500
Units:	25.83 million
Price:	C$0.05
Warrants:	One warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.10
Agent:	Non-brokered
Pricing date:	Feb. 11
Settlement date:	March 25 (for C$617,500), March 30 (for C$674,000)
Stock symbol:	TSX Venture: ARR
Stock price:	C$0.05 at close Feb. 10
Market capitalization:	C$2.4 million

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.