Amarc Resources Secures CAD$20 Million Through Private Placement

Amarc Resources Ltd., a mineral exploration company based in Vancouver, has announced a private placement aiming to raise CAD$20 million. This funding will come from the sale of approximately 20 million common shares at CAD$1.00 each. Institutional investors are leading the placement. The proceeds will support projects in the JOY District and other properties like DUKE and IKE, in addition to covering general corporate expenses.

The issuance of shares in Canada will adhere to a hold period of four months and one day, as per securities law. The transaction awaits necessary approvals, with completion expected by early September.

Funds will primarily support exploration activities and development at Amarc's mining districts spread across British Columbia. The JOY District, for instance, is progressing through a partnership with Freeport-McMoRan, further advancing exploration and development initiatives.