Arco Announces Financing
April 15 2011 - 10:00AM
Marketwired
Arco Resources Corp. (TSX VENTURE: ARR) ("Arco" or the "Company")
announces it will conduct a non-brokered private placement of up to
8,000,000 units for gross proceeds of up to $480,000, subject to
the approval of the TSX Venture Exchange (the "Exchange").
Each Unit will be priced at $0.06 and will consist of one common
share and one non-transferable share purchase warrant (the
"Warrants") exercisable for one additional common share of the
Company at a price of $0.15 for one year from the date of issue.
All shares issued pursuant to this offering and any shares issued
in connection with the exercise of any of the Warrants will be
subject to a four-month hold period from the date of issuance, in
accordance with Exchange policies and applicable securities laws.
Arco will pay qualified parties a finder's fee, subject to the
policies and approval of the Exchange.
The proceeds of the private placement will be used to fund the
preparation of technical reports under National Instrument 43-101
at Arco's Taviche and Predilecta properties located in Oaxaca,
Mexico, and for working capital.
Grant of Stock Options
The Company also announces the grant of incentive stock options
to certain directors and consultants of the Company to purchase up
to 3,000,000 common shares in the capital stock of the Company
pursuant to an approved share option plan. The options are
exercisable at a price of $0.10 per share on or before April 14,
2016, subject to the approval of the TSX Venture Exchange.
About Arco Resources
Arco holds a 100% interest in seven mineral claim blocks, all
located in the State of Oaxaca, Mexico. The Company has begun to
focus its efforts on its Taviche and Predilecta claim blocks, each
of which has had historical production of gold and silver. The
Company has optioned its Lachiguiri, Silacayoapan and Nino Perdido
properties to Argentum Silver Corp., and has optioned a 90%
interest in its Tres Hermanas property to Zodiac Capital Ltd. For
further information on the Company please go to
www.arcoresources.com. Follow Arco on Facebook.
On behalf of the Board of Directors of Arco Resources Corp.
Warren McIntyre, President and Chief Executive Officer
Arco Resources Corp.
Neither 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: Arco Resources Corp. Ian Tootill Director of Investor
Relations 604.639.2866 ext. 110 ian@arcoresources.com
www.arcoresources.com