Home Contact

News Releases

COMPLETION OF $3,030,000 PRIVATE PLACEMENT

March 27, 2006
Release No. 06-07


SOUTHERN ARC MINERALS INC. (SA: TSX-V) is pleased to announce that it has closed its previously announced brokered private placement of 2,900,000 units and non-brokered private placement of 1,428,571 units, at a price of $0.70 per unit, for aggregate gross proceeds of $3,030,000. Haywood Securities Inc. ("Haywood") acted as underwriter for the brokered portion of the Offering. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant is exercisable for a period of 24 months from the closing date into one (1) common share of the Company at a price of $1.00 per share, subject to acceleration of the expiry date.

On the brokered portion of the private placement, Haywood received a cash commission of $152,250 (7.5% of the gross proceeds) and 290,000 Underwriter's Warrants. Each Underwriter's Warrant is exercisable for a period of 24 months from the closing date into one (1) common share of the Company at a price of $0.70 per share.

On the non-brokered portion of the private placement, the Company has agreed to pay finders' fees to Blackmont Capital and Dundee Securities Corporation in the amounts of $28,875 and $15,750, respectively.

All of the securities are subject to a hold period expiring July 25, 2006.

The Company plans to use the net proceeds of the Offering for exploration and development expenditures on its mineral properties in Indonesia and for general working capital.

On behalf of the Board of
Southern Arc Minerals Inc.


"John Proust"

Per: John G. Proust
President and CEO

"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this
release."

TSX-V: SA Quote: $ Change:
Volume:

Latest News Releases

September 5, 2017
Southern Arc Agrees to Sell West Lombok Property read more
August 9, 2017
Southern Arc Acquires Common Shares of Japan Gold Corp read more
August 9, 2017
Southern Arc Invests $5 million in Japan Gold Corp. read more
July 17, 2017
Southern Arc Announces Results from Special Meeting: Shareholders Approve $5 million Investment in Japan Gold read more


  • Address
  • HEAD OFFICE
  • Southern Arc Minerals Inc.
    Suite 650
    669 Howe St
    Vancouver, BC   Canada V6C 0B4
    Telephone: +1-778-725-1490
    Fax: +1-604-428-1124
  • INDONESIAN OFFICE
  • Graha Sentana Building, 4th Floor
    Jalan Buncit Raya No. 2
    Jakarta Selatan,12760   Indonesia
    Telephone: +62-21-7918-8612
    Fax: +62-21-7918-8613