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Canarc Arranges CA$0.6 Million Private Placement Financing
Published : November 27, 2012
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Keywords :   Gold | Gold Mine | Growth | Market |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 27, 2012) - Canarc Resource Corp. (News - Market indicators)(OTCBB:CRCUF)(FRANKFURT:CAN) announces that it has arranged a CA$0.6 million non-brokered private placement equity financing with certain shareholders of the Company. Management, directors and insiders will participate for up to 50% of the offering.

The private placement consists of 5.6 million units priced at CA$0.11 each. Each unit will consist of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional share at Cdn$0.15 during the first two years and Cdn$0.20 thereafter until expiry on the third anniversary of the date of issuance of the warrants.

Should the 10 day average closing share price of Canarc's shares reach Cdn$0.30 or higher within 36 months of the closing, then the warrants will expire within 30 days of that date. No commissions will be paid to third parties for the funds raised.

The private placement is subject to Toronto Stock Exchange approval. The shares and units will be subject to a four month plus one day hold period. The net proceeds of the unit private placement will be used for working capital purposes.

About Canarc Resource Corp. - Canarc Resource is a growth-oriented, gold exploration company listed on the TSX (CCM) and the OTC-BB (CRCUF). The Company is currently seeking to advance its 1.1 million oz, high grade, underground, New Polaris gold mine project in British Columbia to the feasibility stage. Canarc is also focused on exploring its Windfall Hills and Tay LP gold properties in BC and the Yukon Territory, and on acquiring a strategic new gold mine asset for near-term production.

CANARC RESOURCE CORP.

Bradford Cooke, Chairman and CEO

CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS

Certain statements contained herein constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties, as discussed in the Company's filings with Canadian and United States securities agencies. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable law. We seek safe harbour.



Canarc Resource Corp.
Gregg Wilson
(604) 685-9700
Toll Free: 1-877-684-9700
(604) 685-9744 (FAX)
info@canarc.net
www.canarc.net
Companies Mentionned : New Gold | Polaris | Strategic |
Data and Statistics for these countries :
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Canarc Resource Corp.

DEVELOPMENT STAGE
CODE : CCM.TO
ISIN : CA13722D1015
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Canarc Res. is a gold development stage company based in Canada.

Canarc Res. holds various exploration projects in Canada.

Its main asset in development is NEW POLARIS in Canada and its main exploration properties are BENZDORP GOLD PROJECT in Suriname and TAY-LP in Canada.

Canarc Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 24.7 millions as of today (US$ 19.1 millions, € 16.9 millions).

Its stock quote reached its highest recent level on April 19, 1996 at CA$ 3.00, and its lowest recent point on May 08, 2015 at CA$ 0.03.

Canarc Res. has 214 631 264 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
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