Canarc Closes CA$37,350 in
Private Placement Financing
Vancouver, Canada � November
9, 2009 - Canarc Resource Corp. (CCM: TSX,
CRCUF: OTC-BB,
CAN: DB-F) announces
that it has closed the non-brokered private placement equity financing totaling CA$37,350 announced on November 2, 2009.
The private placement consisted of 304,900 units
priced at CA$0.1225 per unit for gross proceeds of CA$37,350. Each
unit consisted of one common share and one-half share purchase
warrant. Each full warrant can be exercised to purchase one common
share at CA$0.165 within an 18 month period.
A 7% finder�s fee is payable in cash on a portion
of this placement. The private placement is subject to the standard
four month hold period (and a US legend for American subscribers only).
The net proceeds of the unit private placement
will be added to working capital.
Canarc Resource Corp. is a growth-oriented, gold exploration company listed
on the TSX (CCM) and the OTC-BB (CRCUF). Canarc is currently focused
on exploring its recently acquired Tay LP gold property in south-central
Yukon and seeking a partner to advance its New Polaris gold mine project in
north-western British Columbia to the feasibility stage. Barrick Gold
Corp. is a shareholder.
CANARC RESOURCE CORP.
Per:
/s/ Philip Yee
Philip Yee
Chief Financial Officer
For more information, please contact Gregg Wilson
at Toll Free: 1-877-684-9700, tel: (604) 685-9700, fax: (604) 685-9744,
email: info@canarc.net or visit our website, www.canarc.net.
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.
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