Business
Pacific Arc Receives Termination Notice from Faina
(TheNewswire) June 4, 2021 – TheNewswire - Vancouver, BC - PACIFIC...
About this update from Pacific Arc Resources Ltd.
[{"type":"text","content":"Pacific Arc Receives Termination Notice from Faina\n \n \n (TheNewswire)\n \n \n \n \n \n \n June 4, 2021 –\n \n \n TheNewswire -\n \n \n Vancouver, BC - PACIFIC ARC RESOURCES\nLTD.\n \n \n (NEX:PAV.H)\n \n \n (TSXV:PAV.H)\n \n \n (\"Pacific Arc\"\nor the \"Company\") announces that, further to Pacific Arc's\npress releases of February 5, 2021 and April 6, 2020, it received a\nnotice of termination from Faina Goldfields Inc., formerly 1232123\nB.C. Ltd (\"Faina\") on June 1, 2021 terminating the proposed\nreverse takeover transaction (the \"Transaction\") between\nPacific Arc and Faina as agreed to in the letter of intent, as\namended, between Pacific Arc and Faina (the\n\"LOI\")\n \n \n .\n \n \n \n \n Pacific Arc believes that Faina's termination of the\nTransaction constitutes a breach of the LOI by Faina. Pacific Arc is\nevaluating available legal remedies with respect to Faina's\nnon-compliance with the LOI.\n \n \n \n \n ON BEHALF OF THE BOARD OF\nDIRECTORS\n \n \n \n \n PACIFIC ARC RESOURCES LTD.\n \n \n \n \n s/ “John MacPhail”\n \n \n \n \n John MacPhail\n \n \n ,\nPresident, CEO and Director\n \n \n \n \n For further information, please contact:\n \n \n \n \n John MacPhail, President, CEO & Director\n \n Phone: (778) 688-7411\n \n \n \n \n \n Neither TSX Venture\nExchange nor its Regulation Services Provider (as that term is defined\nin the policies of the TSX Venture Exchange) accepts responsibility\nfor the adequacy or accuracy of this release.\n \n \n \n \n \n Cautionary Note\nRegarding Forward-Looking Statements\n \n \n \n \n This news release contains certain forward-looking\nstatements, Any statements that express or involve discussions with\nrespect to predictions, expectations, beliefs, plans, projections,\nobjectives, assumptions or future events or performance (often, but\nnot always, using words or phrases such as \"expects\" or does\nnot expect\", \"is expected\", anticipates\" or\n\"does not anticipate\" \"plans\",\n\"estimates\" or \"intends\" or stating that certain\nactions, events or results \" may\", \"could\",\n\"would\", \"might\" or \"will\" be taken,\noccur or be achieved) are not statements of historical fact and may be\n\"forward-looking statements\". Forward-looking statements are\nsubject to a variety of risks and uncertainties which could cause\nactual events or resul...