VANCOUVER, BC, Dec. 8, 2021 /CNW/ - Pacific Arc Resources Ltd.
(NEX: PAV.H) ("Pacific Arc "or the "Company") announces that
pursuant to the company's stock option plan and the policies of the
TSX Venture Exchange, it has granted 456,000 stock options to
certain officers and directors of the Company. The options are
exercisable at $0.20 per common share
until December 3, 2026. The options
vest immediately.
In addition, the Company announces that it has agreed to settle
outstanding indebtedness in the sum of $210,00 by the issuance of 1,050,000 common
shares of the Company at a conversion price, as per regulatory
guidelines, of $0.20 per share. The
parties involved are directors of the Company.
This news release contains certain forward-looking statements,
Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
using words or phrases such as "expects" or does not expect", "is
expected", anticipates" or "does not anticipate" "plans",
"estimates" or "intends" or stating that certain actions, events or
results " may", "could", "would", "might" or "will" be taken, occur
or be achieved) are not statements of historical fact and may be
"forward-looking statements". Forward-looking statements are
subject to a variety of risks and uncertainties which could cause
actual events or results to materially differ from those reflected
in the forward-looking statements. The Company undertakes no
obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change except as required
by applicable securities laws. The reader is cautioned not to place
undue reliance on forward-looking statements.
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.
SOURCE Pacific Arc Resources Ltd.