VANCOUVER, Sept. 9, 2015 /CNW/ - Amarc Resources
Ltd. ("Amarc" or the "Company") (TSXV: AHR; OTCBB: AXREF) announces
that it has entered into a $500,000
Loan Agreement (the "Loan") with a non-arm's length director and
officer of the Company (the "Lender").
The Loan is unsecured, will bear interest at a rate of 7% per
annum and is repayable after two years or earlier on the occurrence
of a default. In connection with the Loan, Amarc will issue to the
Lender a loan bonus in the form of 5,555,555 warrants (the "Bonus
Warrants"), each entitling the holder to acquire one common share
of Amarc for 2 years at a price of $0.09 per share. The Bonus Warrants will be
subject to a four month hold period commencing from the date of
issuance thereof. The Loan and Bonus Warrants are subject to
acceptance by the TSX Venture Exchange.
The Loan Agreement provides that if the Loan is reduced or
repaid in full during the first year of its term, a pro-rata number
of the total number of Bonus Warrants will have their term reduced
to the later of one year from the date of issuance thereof and 30
days from the date of the reduction or repayment in full.
The Loan will be used for working capital for Amarc.
About Amarc Resources Ltd.
Amarc is a British
Columbia-based mineral exploration and development company
with an experienced and successful management team that is focused
on advancing its IKE project, a major porphyry copper discovery in
the heartland of BC's copper mining industry with proximity to
mining infrastructure, power, rail and highways.
Amarc is associated with Hunter Dickinson Inc. (HDI) a diversified,
global mining company with a 25+-year history of porphyry discovery
and development success. Previous and current HDI porphyry projects
include some of BC's and the world's most important mineral
resources, such as Mount Milligan, Kemess South, Kemess North,
Gibraltar, Prosperity, Xietongmen,
Newtongmen, Florence, Sisson, Maggie and Pebble. From its head
office in Vancouver, Canada, HDI
applies its unique strengths and capabilities to acquire, develop,
operate and monetize mineral properties to provide superior returns
to shareholders.
ON BEHALF OF THE COMPANY
Diane Nicolson
President
Neither the TSX Venture Exchange nor any other regulatory
authority accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking and other Cautionary Information
This news release includes certain statements that may be deemed
"forward-looking statements". All such statements, other than
statements of historical facts that address exploration drilling,
exploitation activities and other related events or developments
are forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements.
Assumptions used by the Company to develop forward-looking
statements include the following: Amarc's projects will obtain all
required environmental and other permits and all land use and other
licenses, studies and exploration of Amarc's projects will continue
to be positive, and no geological or technical problems will occur.
Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices,
potential environmental issues or liabilities associated with
exploration, development and mining activities, exploitation and
exploration successes, continuity of mineralization, uncertainties
related to the ability to obtain necessary permits, licenses and
tenure and delays due to third party opposition, changes in and the
effect of government policies regarding mining and natural resource
exploration and exploitation, the exploration and development of
properties located within Aboriginal groups asserted territories
may affect or be perceived to affect asserted aboriginal rights and
title, which may cause permitting delays or opposition by
Aboriginal groups, continued availability of capital and financing,
and general economic, market or business conditions. Investors are
cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
For more information on Amarc Resources Ltd., investors should
review the Company's annual Form 20-F filing with the United States
Securities and Exchange Commission at www.sec.gov and its home
jurisdiction filings that are available at www.sedar.com.
SOURCE Amarc Resources Ltd.