ArcPacific Resources : Announces First Closing of Non-Brokered Private Placement

Vancouver - ArcPacific Resources Corp. ('ACP' or 'the Company') (TSX-V: ACP) is pleased to announce the closing of its non-brokered private placement of 2,600,000 units of the Company at C$0.05 per unit for gross proceeds of $130,000.

Each unit consists of one common share of the Company (a 'Common Share') and one half of one warrant of the Company with a whole warrant entitling the holder to purchase one Common Share at $0.10 for a period of two years. The units are subject to a four month hold period expiring May 1, 2020. The Company will continue to raise up to C$1,000,000 by way of a non-brokered private placement pursuant to the news release dated on November 18th,, 2019 and December 11th, 2019 subject to the final acceptance of TSX Venture Exchange.

About ArcPacific

ArcPacific Resources Corp. (TSX-V: ACP) is a Canadian based company with a project generator business model. Although the Company's primary business focus since formation has been the exploration of mineral properties, it is now seeking new business opportunities that offer the potential for near term cash flow to create shareholder value.

Contact:

Tel: [phone]

Email: [e-mail]

(C) 2020 Electronic News Publishing, source ENP Newswire