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Highlights

  • Pacific Arc to issue up to 18.63 million shares at CAD 0.015 per share for gross proceeds of CAD 279,430
  • Funds will be used to address accounts payable and for general working capital
  • Offering remains subject to TSX Venture Exchange approval and applicable hold period regulations

Pacific Arc Resources Ltd. (TSXV: PAV.H) is a Canadian reporting issuer with operations governed by provincial securities laws in British Columbia, Alberta, and Ontario. The company has announced a proposed non-brokered private placement to raise gross proceeds of up to CAD 279,430. The offering involves the issuance of up to 18,628,710 common shares of the company at a price of CAD 0.015 per share.

The financing is subject to regulatory approval from the TSX Venture Exchange. Any securities issued in connection with the offering will be subject to a statutory hold period of four months, in compliance with applicable securities regulations.

The company stated that the proceeds from the private placement will be allocated toward settling outstanding accounts payable and supporting general working capital requirements. This allocation reflects an effort to manage short-term obligations and sustain core administrative functions.

Pacific Arc Resources is a reporting issuer in British Columbia, Alberta, and Ontario. The company is incorporated under the Business Corporations Act of British Columbia (BCBCA) and its common shares are listed for trading on the TSX Venture Exchange NEX board under the symbol “PAV.H”.

As with all regulatory disclosures, the company emphasized that the TSX Venture Exchange and its Regulation Services Provider have not reviewed or approved the content of the release and bear no responsibility for its adequacy or accuracy.

This announcement marks another step by Pacific Arc to maintain financial stability within its listed entity obligations while operating on the TSXV’s NEX board, which typically accommodates issuers that do not currently meet the continuous listing requirements of the main TSX Venture Exchange. The company did not disclose any further details regarding investor participation or anticipated timelines for the closing of the offering.