Amarc Resources announces CAD 20 million private placement

Amarc Resources Ltd. has announced plans to complete a private placement of approximately 20 million common shares. The offering is priced at CAD 1.00 per share, aiming to raise gross proceeds of roughly CAD 20 million.

The placement is expected to see strong participation from institutional investors. The company intends to use the funds for future expenditures related to the JOY District, working capital, general corporate purposes, project investigations, and the development of other properties, specifically the DUKE and IKE projects.

The completion of the offering is targeted for early September, subject to the execution of definitive subscription documentation, the availability of funds, and approval from the TSX Venture Exchange. Under Canadian securities laws, the shares will be subject to a four-month and one-day hold period.