Business
AMARC CLOSES $9.9 MILLION FINANCING
Jan. 18, 2011 (Canada NewsWire Group) -- VANCOUVER, Jan. 18 /CNW/ - Amarc Resources Ltd. (&qu...
About this update from Amarc Resources Ltd.
[{"type":"text","content":"\n\n\n\n Jan. 18, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Jan. 18 /CNW/ - Amarc Resources Ltd. ("Amarc" or the\n "Company") (TSX Venture: AHR; OTCBB: AXREF) has completed the $9.9\n million private placement financing announced on December 23, 2010.\n Approximately 13.9 million common shares have been issued, of which\n some 42% are flow-through shares at a price of $0.80 per share and the\n remainder are non-flow-through shares at a price of $0.65 per share.\n All shares issued are subject to a four-month hold period under\n applicable Canadian securities legislation. Insiders of the Company\n have participated.  A cash fee of up to 6% is payable with respect to a\n portion of the financing.\n\n\n"Amarc is well funded," said Robert A. Dickinson, Amarc Chairman.\n "Proceeds from the $9.9 million financing will be used to advance\n ongoing core drilling at the Newton bulk tonnage gold project and to\n test compelling copper-molybdenum porphyry targets defined within the\n Plateau Gold-Copper Belt."\n\n\nA comprehensive 2010 surface exploration program at Newton, located in\n south-central British Columbia (BC), defined an exceptional bulk\n tonnage-type gold target covering some eight square kilometres. Within\n this target zone, previous drilling in approximately two square\n kilometres returned potentially ore-grade gold intercepts over broad\n intervals, with other holes hosting wide intervals of gold grades\n pr...