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.
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