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Pacific Arc Announces Planned Debt-to-Equity Conversion
(via TheNewswire) May 30, 2019 / TheNewswire / Vancouver, BC - PACIFIC ARC RESOURCES L...
About this update from Pacific Arc Resources Ltd.
[{"type":"text","content":"Pacific Arc Announces Planned Debt-to-Equity Conversion(via TheNewswire)\n \n \nMay 30, 2019 / TheNewswire / Vancouver, BC - PACIFIC ARC RESOURCES LTD. (the \"Company\" or \"Pacific Arc\") (TSXV-NEX: \"PAV.H\") announces that it has agreed to settle outstanding indebtedness with arm's length parties in the sum of $30,000 by the issuance of 176,469 common shares of the Company at a conversion price, as per regulatory guidelines, of $0.17 per share. The parties involved are directors of the Company.\n\n\n \nAll securities issuable in connection with the transaction will be subject to a four-month hold period from the date of issue. \n\n\n \nThe completion of this transaction is subject to the approval of the TSX Venture Exchange.\n\n\n \nOn May 30, 2019, the Company granted 1,600,000 stock options to directors, consultants and/or officers with an exercise price of $0.23 per share and expiry date of May 30, 2024. The option grant issuance is made under the stock option plan of the Company that was approved by shareholders on December 18, 2018.\n\n\n \nON BEHALF OF THE BOARD OF DIRECTORS\n\n\n \nPACIFIC ARC RESOURCES LTD.\n\n \n \ns/ \"John MacPhail\"\n\n\n \nJohn MacPhail, President, CEO and Director\n\n \n \nFor further information, please contact:\n\n \n \nJohn MacPhail, President, CEO & Director\nPhone: (778) 688-7411\n\n\n \nNeither 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.\n\n\n \nCaution Concerning Forward-Looking Information\n\n\n \nThis news release contains \"forward-looking information\" and \"forward-looking statements\" within the meaning of applicable securities laws, including statements regarding the future strategy of the Company and the possible approvals of matters by shareholders of the Company. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as \"may\", \"will\", \"should\", \"anticipate\", \"plan\", \"expect\", \"believe\", \"estimate\", \"intend\" and similar terminology, and reflect ass...