Canarc closes $9.2 million special warrant financing.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , BRITISH COLUMBIA--(BUSINESS WIRE)--June 21, 1996-- Canarc Resource Corp. (CCM-TSE), has closed its previously announced $9.2 million Special Warrant financing sponsored by Nesbitt Nesbitt is a family and place name. People:
Canarc issued 4.1 million Special Warrants at $2.25 per warrant. Each warrant will convert into one common share and one half share purchase warrant upon the receipting of a prospectus to be filed in Ontario. The Company plans to use part of the proceeds to complete a $5 million feasibility program, including extensive underground development and drilling now underway at the Polaris Taku gold property in northwestern British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . Additional funds will be used to carry out exploration and drilling programs on the Benzdorp property in Suriname. Canarc Resource Corp. is a growth-oriented, international gold exploration and mining company with active projects worldwide. Major shareholders include Barrick Gold Barrick Gold Corporation TSX: ABX NYSE: ABX is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units (RBU's) located in Australia, Africa, North America and South America. Corp. (4 percent) and Echo Bay Mines Ltd. (10 percent). ON BEHALF OF THE BOARD OF DIRECTORS CANARC RESOURCE CORP Bradley T. Aelicks Director FOR FURTHER INFORMATION PLEASE CONTACT: Canarc Resource Corp. Robert Carriere Manager of Investor Relations Investor relations The process by which the corporation communicates with its investors. (604) 685-9700 http://www.mcomm.com/Canarc NOTE: If you have an E-Mail address See Internet address. e-mail address - electronic mail address and would prefer to receive Canarc's News Releases through this format, please inform us of your E-Mail address. CONTACT: Canarc Resource Corp. Robert Carriere, 604/685-9700 |
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