Southern Arc Completes Additional $207,000 Non-Brokered Equity Financing
Vancouver, B.C.: Further to the Company's news release dated December 18, 2007, Southern Arc Minerals Inc. (TSXV: SA) is pleased to announce that it has completed the second and final tranche of its previously announced private placement. The Company has issued 172,500 units (the "Units”) at a price of $1.20 per Unit, pursuant to its non-brokered private placement, for gross proceeds to the Company of $207,000. Each Unit consists of one common share and one-half of a transferable share purchase warrant. Each full warrant is exercisable into one additional common share at an exercise price of $1.75 per common share for a period of two years.
The proceeds of the private placement will be used for exploration and development on the Company's mineral properties in Indonesia and for general working capital.
All of the securities are subject to a hold period expiring May 9, 2008.
On Behalf of the Board of
Southern Arc Minerals Inc.
"John G. Proust”
President and CEO
For more information please contact:
Southern Arc Minerals Inc.
c/o John G. Proust, CEO
Telephone: (604) 676-5241 Fax: (604) 676-5246
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: http://southernarcminerals.com/
The securities described in this press release will not be or have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The proceeds of the private placement will be used for exploration and development on the Company's mineral properties in Indonesia and for general working capital.
All of the securities are subject to a hold period expiring May 9, 2008.
On Behalf of the Board of
Southern Arc Minerals Inc.
"John G. Proust”
President and CEO
For more information please contact:
Southern Arc Minerals Inc.
c/o John G. Proust, CEO
Telephone: (604) 676-5241 Fax: (604) 676-5246
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: http://southernarcminerals.com/
The securities described in this press release will not be or have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
