Amarc Announces Loan Extension

Rhea-AI Summary

Amarc Resources (TSXV:AHR)(OTCQB:AXREF) has announced a Third Loan Amendment Agreement with a director and significant shareholder of the company. The agreement extends the repayment date of a $1,000,000 loan from November 26, 2024, to November 26, 2025. All other terms of the loan remain unchanged.

Positive

• One-year extension of loan repayment provides additional financial flexibility

Negative

• Continued reliance on insider financing indicates potential liquidity constraints
• Extension of $1,000,000 debt obligation suggests possible cash flow challenges

VANCOUVER, BC / ACCESSWIRE / December 20, 2024 / Amarc Resources Ltd. ("Amarc" or the "Company") (TSXV:AHR)(OTCQB:AXREF) announces that that it has entered into Third Loan Amendment Agreement dated November 25, 2024 (the "Amendment Agreement") with a lender who is a director and significant shareholder of the Company. Pursuant to the Amendment Agreement, the repayment date of the $1,000,000 loan (the "Loan") thereunder was extended from November 26, 2024 to November 26, 2025. The other terms of the Loan remain unchanged.

About Amarc Resources Ltd.

Amarc is a mineral exploration and development company with an experienced and successful management team focused on developing a new generation of long-life, high-value porphyry Cu-Au mines in BC. By combining high-demand projects with dynamic management, Amarc has created a solid platform to create value from its exploration and development-stage assets.

Amarc is advancing its 100%-owned JOY, DUKE and IKE porphyry Cu±Au districts located in different prolific porphyry regions of southern, central and northern BC, respectively. Each district represents significant potential for the development of multiple and important-scale, porphyry Cu±Au deposits. Importantly, each of the three districts is located in proximity to industrial infrastructure - including power, highways and rail.

For further details on Amarc Resources Ltd., please visit the Company's website at www.amarcresources.com or contact Dr. Diane Nicolson, President & CEO, at (604) 684-6365 or within North America at 1-800-667-2114.

ON BEHALF OF THE BOARD of Directors of Amarc Resources Ltd.

Dr. Diane Nicolson
President and Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Amarc Resources Ltd.

View the original press release on accesswire.com

FAQ

What is the new repayment date for Amarc Resources' (AXREF) $1 million loan?

The new repayment date for Amarc Resources' $1 million loan has been extended to November 26, 2025.

How long is the extension period for Amarc Resources' (AXREF) loan amendment?

The loan extension period is one year, from November 26, 2024, to November 26, 2025.

Who provided the $1 million loan to Amarc Resources (AXREF)?

The loan was provided by a lender who is both a director and significant shareholder of Amarc Resources.

What terms changed in Amarc Resources' (AXREF) Third Loan Amendment Agreement?

Only the repayment date was changed in the Third Loan Amendment Agreement, with all other loan terms remaining unchanged.