Canarc Resource closes $500K financing

Vancouver (pcJ News Briefs) – Canarc Resource Corp. (TSX: CCM, OTCQB: CRCUF, FSE: CAN) has arranged and closed a flow-through equity financing of 3,846,154 flow-through common shares at $0.13 per share for gross proceeds of $500,000 with one institutional investor.

Canarc Resource paid a finder’s fee of $32,500 cash and issued 250,000 finder’s warrants with each warrant entitling the holder to purchase one non-flow-through common share at an exercise price of $0.15 for a two-year period.

Proceeds will be used for exploration at FG Gold Project that is scheduled to complete, subject to permitting, in September 2017.

Canarc Resource is a growth-oriented, gold exploration and mining currently focused on acquiring operating or pre-production stage gold-silver-copper mines or properties in the Americas and further advancing its gold properties in Nevada and BC.

photo credit: Canarc Resource