Arcus Closes Flow-Through Private Placement
2010年7月28日 - 9:00PM
Marketwired
Arcus Development Group Inc. (TSX VENTURE: ADG) ("Arcus") announces
that it has completed the non-brokered private placement previously
announced on June 16, 2010. The financing consisted of 7,670,000
flow-through common shares at a price of $0.20 per share for gross
proceeds of $1,534,000. The private placement was oversubscribed by
$34,000.
Of the 7,670,000 shares sold under this placement, 2,800,000
shares were purchased by the MineralFields Group. Following the
completion of this placement, the MineralFields Group holds a total
of 5,186,306 Arcus shares and 2,916,306 Arcus share purchase
warrants. The MineralFields Group and Limited Market Dealer Inc.
have provided the TSX Venture Exchange and Arcus with an
undertaking not to exercise any Arcus warrants if doing so will
result in the MineralFields Group acquiring greater than 20% of the
issued Arcus share capital (a Control Person).
In connection with the private placement, Arcus paid cash
finder's fees of $74,450 and issued 503,000 finder's warrants to
arm's length finders. Each finder's warrant is exercisable at a
price of $0.25 until July 27, 2011 and entitles the holder to
acquire one non-flow-through Arcus common share. All securities
issued as part of the placement, including the flow-through shares,
the finder's warrants and any non-flow-through shares issued upon
the exercise of the finder's warrants, are subject to a regulatory
hold period and may not be resold until November 28, 2010.
On July 19, 2010, Arcus announced a $1 million non-brokered unit
private placement. That placement is expected to be completed
during the first week of August.
The ongoing mechanical trenching programs at the Green Gulch and
Touleary properties are nearing completion. Final arrangements are
being made for the mobilization of the crew and equipment to the
Dan Man property where trenching is expected to begin in early
August. Assay results from all trenching will be announced as soon
as results are available.
On behalf of Arcus Development Group Inc.
Ian J. Talbot, President & CEO
CAUTIONARY NOTE: This news release includes certain
"forward-looking statements". Other than statements of historical
fact, all statements included in this release, including, without
limitation, statements regarding future plans and objectives of
Arcus Development Group Inc., are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Arcus Development Group Inc.'s
expectations are the risks detailed herein and from time to time in
the filings made by Arcus Development Group Inc. with securities
regulators. Those filings can be found on the Internet at
http://www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Arcus Development Group Inc. Grant Longhurst Corporate
Communications (604) 506-2445 grant@arcusdevelopmentgroup.com Arcus
Development Group Inc. Ian J. Talbot President & CEO (604)
687-2522 (604) 688-2578 (FAX) ian@arcusdevelopmentgroup.com
www.arcusdevelopmentgroup.com
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