Arak Resources closes $650K financing

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By CPE News

Vancouver (pcJ News Briefs) – Arak Resources Ltd. (TSX-V: AAC) has clsoed its previously announced private placement of 4,634,000 units at $0.14 per unit for gross proceeds of $650,020.

Each unit consists of one common share and one share purchase warrant exercisable for one additional share, until March 21, 2022, at $0.18 per share.

Arak Resources issued 300,000 finders units, with same terms, to NewGen Equity Long-Short Fund.

Arak Resources Ltd., formerly Actus Minerals Corp., is a resource exploration company in the exploration stage, engaged in the acquisition, exploration and development of resource properties.