$1.05 MILLION PRIVATE PLACEMENT
Vancouver, B.C.: Southern Arc Minerals Inc. (TSX Venture: SA) is pleased to announce that it has negotiated a non-brokered private placement for up to 3,000,000 units of the Company at a price of $0.35 per unit, for gross proceeds of up to $1,050,000. Each unit will consist of one common share and one-half (1/2) of a non-transferable share purchase warrant. Each full warrant is exercisable into one additional common share at an exercise price of $0.50 per common share for a period of two (2) years from closing. The placement is subject to regulatory acceptance.
The proceeds of the private placement will be used to advance current exploration programs, for additional property acquisitions, and as general working capital.
In addition, the Company has entered into an investor relations agreement with Robert Jeffery, whereby Mr. Jeffery will provide investor relations services to the Company, initially for a period of six months and thereafter on a month-to-month basis. The Company has agreed to pay Mr. Jeffery a fee in the amount of $4,500 per month for his services.
Mr. Jeffery has been involved in the securities industry for 28 years, including 13 years as a stock broker. He has performed investor relations for public companies during the last 15 years, including 5 years for Hunter Dickinson Inc., a manager of publicly-traded mineral exploration and development companies.
On behalf of the Board of
Latest News Releases
June 6, 2017
Southern Arc to Invest $5 million in Japan Gold Corp.read more
April 19, 2017
Southern Arc Announces Normal Course Issuer Bid read more
January 20, 2017
Southern Arc Provides Update on Strategic Investment in Tethyan Resources PLC read more