The Prospector News

Canarc Arranges CAD$1.44 Million Flow-Through Private Placement Financing

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article






Canarc Resource Corp. (TSX: CCM), (OTCQB: CRCUF), (Frankfurt: CAN) announces that it has arranged and closed a non-brokered private placement of flow-through common shares for aggregate gross proceeds to the Company of CAD$1.44 million. The Company has issued an aggregate of 23,729,856 FT Shares pursuant to the Offering, 17,333,333 of which were issued at a purchase price of $0.06 per FT Share and the balance of 6,396,523 were issued at a purchase price of $0.0625 per FT Share. Canarc has already received conditional approval by the TSX.


An accomplished investor in the global resource sector became the ultimate owner of all the FT Shares issued in the Offering, other than 528,000 FT Shares, which were subscribed for by a Director of Canarc.


Scott Eldridge, Canarc’s CEO, stated: “We are pleased to have completed this financing and we look forward to conducting further exploration work on our newly acquired Canadian projects. In particular, our Hard Cash and Princeton gold projects have district-scale gold discovery potential where field work is currently underway on both projects.”


Canarc will use the proceeds from the Offering to fund its exploration projects in Canada, including the Princeton and Hard Cash properties. In accordance with applicable Canadian securities laws, the FT Shares will be subject to a four month hold period expiring on November 24, 2019.


After the closing of the Offering, 242,085,000 common shares of the Company are outstanding.


In connection with the Offering, the company paid cash finders’ fees to BlackBridge Capital Management Corp. of $91,440 and also issued them 1.508 million non-transferable finder’s warrants, with each finder’s warrant being exercisable to acquire one common share of the company at an exercise price of $0.06 cents until July 23, 2021.


About Canarc


Canarc Resource Corp. is a growth-oriented gold exploration company focused on generating superior shareholder returns by discovering, exploring and developing strategic gold deposits in North America. The Company is currently advancing two core assets, each with substantial gold resources, and has initiated a high impact exploration strategy to acquire and explore new properties that have district-scale gold discovery potential.


Posted July 24, 2019

Share this news article


Cameco reports first quarter results, Cigar Lake restart and the continued execution of strategy to support global clean-air transition

Cameco (TSX: CCO) (NYSE: CCJ) reported its consolidated financial... READ MORE

May 7, 2021

ValOre Provides Update on Rhodium Assay Program at Pedra Branca PGE Project: All targets and deposits return rhodium mineralization, highlights of 1.44 and 1.37 g/t Rh from Esbarro deposit, 1.27 g/t Rh from Cedro deposit

ValOre Metals Corp. (TSX‐V: VO) (OTC: KVLQF) (Frankfurt: KEQ0) ... READ MORE

May 7, 2021

Golden Tag Intersects 286.02 g/t Ag.Eq Over 18.43 m and Identifies Mineralized Skarn Shoots 265 m above Fernandez Zone

Golden Tag Resources Ltd. (TSX-V: GOG) (OTCQB: GTAGF) has success... READ MORE

May 6, 2021

Atico Continues to Expand VMS Footprint with High Grade Copper-Gold Intercepts Reporting 3.70% Cu, 2.80 g/t Au, 40.63 g/t Ag and 4.53% Zn over 3.94 meters and Reinitiates Regional Exploration at La Plata Project in Ecuador

Atico Mining Corporation (TSX-V: ATY) (OTC: ATCMF) is pleased to ... READ MORE

May 6, 2021

Falco Closes the Sale of a Portfolio of Net Smelter Return Royalties

Falco Resources Ltd. (TSX-V:FPC) is pleased to announce that it h... READ MORE

May 6, 2021

Copyright 2021 The Prospector News