November 16, 2017. PACIFIC ARC RESOURCES LTD. (the “Company”) (TSXV-NEX: “PAV.H”) wishes to announce that it has negotiated a non-brokered private placement of units for up to $600,000 in gross proceeds. The financing will consist of up to 5,000,000 units (the “Units”) at a price of $0.12 per Unit. Each Unit will consist of one common share in the capital of the Company and one non-transferable share purchase warrant (the “Warrants”). Each Warrant forming a part of the Units will entitle the holder thereof to acquire one additional common share of the Company at a price of $0.15 per share at any time prior to the date that is 24 months from the date of issuance.
Net proceeds from the financing will be utilized to explore possible acquisitions and for general working capital purposes. Finders fees may be payable in connection with the financing as permitted under the policies of the Exchange.
For further information, please contact:
Harry Chew, President Phone: (604) 689-2646
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “Harry Chew”
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.