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VANCOUVER, British Columbia, July 09, 2018 (GLOBE NEWSWIRE) -- Arcus Development Group Inc. (TSX-V: ADG ) (“Arcus”) announces that it will carry out the non-brokered private placement of up to 5,000,000 flow-through shares at a price of $0.05 per share (the “Offering”). The maximum proceeds from the Offering will be $250,000. Arcus does not anticipate paying any finders’ fees in respect of the Offering.
Proceeds from the Offering will be used to drill test the Bengal zone, a gold-in-soil geochemical anomaly on the company’s wholly-owned Dan Man property, located immediately north and adjacent to the Goldcorp Coffee property in Yukon Territory. All proceeds from the Offering will be used by Arcus to incur eligible Canadian exploration expenses which will be renounced to investors for the fiscal year ending December 31, 2018.
The Offering is subject to TSX Venture Exchange acceptance. All of the flow-through shares issued as part of the Offering will be subject to a hold period of four month plus one day from the date of closing of the Offering. A portion of the Offering will be purchased by Arcus officers and directors.
Arcus is a mineral exploration company listed on the TSX Venture Exchange and holds a 100% interest in four mineral properties located in the White Gold District of Yukon Territory. The key Arcus projects are the Dan Man and the Touleary properties. For additional information please visit the Arcus website at www.arcusdevelopmentgroup.com .
On behalf of Arcus Development Group Inc.
“Ian J. Talbot”
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 contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “will be”, “will have”, “is expected to” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. 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 additional information contact: Ian J. Talbot, President and CEO Arcus Development Group Inc. Phone: (604) 687-2522 Web: www.arcusdevelopmentgroup.com
