Amarc Resources closes CAD$20M private placement

Amarc Resources Ltd. (OTCQB: AXREF, TSXV: AHR, FSE: AQ5) has closed a fully subscribed private placement, raising CAD$20 million through the issuance of 20 million common shares at CAD$1.00 per share.

According to a press release, the company plans to use the proceeds for exploration expenditures at the JOY District, working capital, general corporate purposes, project investigations, and to advance its DUKE and IKE properties in British Columbia.

The shares are subject to a four-month and one-day hold period under Canadian securities laws, expiring January 10, 2027. Agentis Capital Mining Partners acted as financial advisor on the transaction.

Amarc President and CEO Diane Nicolson attributed institutional investor participation to interest in the JOY District, which hosts the AuRORA Gold-Copper Deposit, discovered in 2024.

The JOY and DUKE Districts have collectively attracted more than CAD$144 million in strategic partner funding from Freeport-McMoRan and Boliden AB subsidiaries, respectively.

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