Arcus Financing Completed
07 August 2013 - 2:33AM
Marketwired Canada
Arcus Development Group Inc. ("Arcus") (TSX VENTURE:ADG) reports that the
$100,000 non-brokered private placement announced on July 29, 2013 has been
completed. The placement consisted of the sale of 3,333,333 common shares at a
price of $0.03 per share. The sole investor under the placement was Strategic
Metals Ltd. ("Strategic Metals") which now holds an 8.25% interest in Arcus.
No finder's fee or sales commission was paid in respect of the placement. All
shares issued under the placement are subject to a hold period expiring on
December 7, 2013. The placement was conducted pursuant to the TSX Venture
Exchange bulletin dated April 12, 2013, Private Placements - Extension and
Modification of Temporary Relief from Certain Pricing Requirements.
Proceeds from the placement will be used by Arcus to pay annual audit fees,
general operating costs including office rent, accounting fees, insurance,
Exchange sustaining fees, regulatory filing fees and transfer agent fees. There
are no outstanding liabilities owed by Arcus to related parties and no proceeds
from the placement will be used to make any related party payments. No Arcus
board member has any interest in the placement.
On behalf of Arcus Development Group Inc.
Ian J. Talbot, President and CEO
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.
CAUTIONARY NOTE: This news release includes certain "forward-looking
statements". Other than statements of historical fact, all statements included
in this release, including, without limitation, statements regarding future
plans and objectives of Arcus Development Group Inc., are forward-looking
statements that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the
Arcus Development Group Inc.'s expectations are the risks detailed herein and
from time to time in the filings made by Arcus Development Group Inc. with
securities regulators. Those filings can be found on the Internet at
http://www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Arcus Development Group Inc.
Grant Longhurst
Corporate Communications
(604) 506-2445
(604) 688-2578 (FAX)
grant@arcusdevelopmentgroup.com
www.arcusdevelopmentgroup.com
Arcus Development Group Inc.
Ian J. Talbot
President & CEO
(604) 687-2522
(604) 688-2578 (FAX)
ian@arcusdevelopmentgroup.com
www.arcusdevelopmentgroup.com
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