Owner
Post by Franko10 ™ on Feb 22, 2005 21:50:43 GMT -5
GOLDEN ARCH RESOURCES LTD.
#928 – 470 Granville Street, Vancouver, BC V6C 1V5
Phone: (604) 681-8222 Fax: (604) 681-8282
GAI: TSX Venture Exemption 12g3 - 2(b)
GARCF: O.T.C SEC File # 82-659
#928 – 470 Granville Street, Vancouver, BC V6C 1V5
Phone: (604) 681-8222 Fax: (604) 681-8282
GAI: TSX Venture Exemption 12g3 - 2(b)
GARCF: O.T.C SEC File # 82-659
Private Placement Closed
November 7, 2003 - Golden Arch Resources Ltd. is pleased to announce that the private placement announced in the Company’s news release of October 16, 2003 has closed. The private placement was fully subscribed for 4,000,000 Units at $0.15 Cdn per Unit. Each Unit consists of one common share and one half of one share purchase warrant. Two one-half warrants will be combined to form one full warrant, with each full warrant entitling the holder to purchase one additional common share at an exercise price of $0.25 per share for a period of 18 months. A finder’s fee payable in common shares is due to Canaccord Capital Corporation.
Proceeds will be used to further develop the Company’s Mildred Peak property in Pima County, Arizona, and for general corporate overhead. Permits for drilling and further excavation have been applied for.
On behalf of the Board of Directors of Golden Arch Resources Ltd.
“Les Kjosness”<br>President
