|
|||||||||||||||||
|
|
|
|
||||
|
NEWS RELEASECanarc Closes $650,000 Private Placement FinancingVancouver, British Columbia, Canada, March 12, 2003Canarc
Resource Corp. (CCM:TSX and CRCUF:OTC-BB) has now closed
its recently announced CA$650,000 private placement financing. Most of this equity offering
was taken up by existing shareholders. The net proceeds were added
to working capital in order to fund the next phase of exploration
work on the Benzdorp gold property in Suriname. An
aggressive program of trenching and sampling is now underway in the
JQA prospect area to follow up on the extensive gold mineralization
trenched late last year and reported in January. Additional sampling work
will also be carried out to try and extend the mineralized zone
along strike to the north and south. Canarc plans to commence the
first drilling program at Benzdorp in
April. Bradford
Cooke, President and C.E.O., is also pleased to report that Canarc
Resource Corp. is one of the featured companies of The MacReport.Net
(www.macreport.net), a leading provider of online business
information. Canarc
will also be part of The MacReport.Net's coverage in the March issue
of Institutional Investor magazine, the premier publication for
professional finance. Canarc
Resource Corp.
is a growth-oriented gold exploration and mining company listed on
the TSX (symbol CCM) and the OTC-BB (symbol CRCUF). The Company is currently
focused on developing the high grade New Polaris gold deposit in
British Columbia and exploring the potentially large Benzdorp gold
discovery in Suriname.
Major shareholders include Barrick Gold and Kinross Gold
Corporation.
ON BEHALF OF THE BOARD OF DIRECTORS CANARC RESOURCE CORP. Bradford J. Cooke President and CEO
|
|
|||
disclaimer |
||||