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Southern Arc Minerals Inc. Announces Participation in Private Placement of Rise Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - Southern Arc Mineral Inc. ( T...
About this update from Southern Arc Minerals Inc. Class A
[{"type":"text","content":"Southern Arc Minerals Inc. Announces Participation in Private Placement of Rise Gold Corp.Vancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - Southern Arc Mineral Inc. (TSXV: SA.H) (\"Southern Arc.\" or the \"Company\") is pleased to announce its participation in the private placement (\"Private Placement\") offering of Rise Gold Corp. (CSE: RISE) (\"Rise\"). The Company subscribed for 1,000,000 units of Rise for a total investment of US$400,000. Each purchased unit is comprised of one common share of Rise and one half of one purchase warrant, each whole purchase warrant entitling the Company to purchase an additional common share of Rise at US$0.60 per share until January 31, 2025. Rise has indicated that the funds raised in the Private Placement will be used in connection with the re-opening of its Idaho-Maryland Gold Mine in California, debt repayment and for general working capital. John Proust, CEO, reported that, \"This is the third time that Southern Arc has invested in Rise, with the previously purchased shares delivered to our shareholders in connection with a return of capital transaction Southern Arc completed on October 30, 2020. With the recent release of a favorable final environmental impact report for the project, the board of directors of Southern Arc determined that it was an opportune time to invest in the potential re-opening of the Idaho-Maryland mine.\"Further information about the Private Placement can be found in on Rise's SEDAR profile at www.sedar.com. The Company received conditional approval for its participation in the Offering from the TSX Venture Exchange. On behalf of the Board ofSouthern Arc Minerals Inc.\"John Proust\"Chairman and CEOAbout Southern Arc Southern Arc is a Canadian company focused on enhancing shareholder value through strategic investments in mineral resource companies with a focus on gold and copper-gold. Southern Arc's management team identifies highly prospective assets in politically safe jurisdictions and seeks to unlock their value by providing strategic investments, proven technical skills, global knowledge, and increased access to industry relationships. More information is available at www.southernarcminerals.com or by email at [email protected]. Southern Arc ContactJohn Proust, Chairman & CEO Phone: 778-725-1490 Email: info@southernarcminer...