Amarc Closes Fully Subscribed CAD$20 Million Private Placement Financing
Amarc raises CAD$20 million via a fully subscribed private placement to fund exploration and corporate purposes across its JOY, DUKE and IKE districts.
Rhea-AI Summary
Amarc Resources (AXREF) closed its previously announced private placement, issuing 20,000,000 common shares at CAD$1.00 per share for gross proceeds of CAD$20 million.
The company plans to use the proceeds to fund future exploration at the JOY District, including the AuRORA Gold-Copper Deposit, as well as working capital, general corporate purposes, project investigations, and advancing its DUKE and IKE properties. Management highlights the perceived Tier 1 potential of the JOY District and the growing importance of AuRORA to the Toodoggone Region. The new shares are subject to a four‑month and one day hold period in Canada, expiring January 10, 2027. The securities have not been registered under the U.S. Securities Act and may not be offered or sold in the United States without registration or an applicable exemption. Agentis Capital Mining Partners is acting as financial advisor.
Positive
- Private placement proceeds CAD$20,000,000 gross raised at CAD$1.00 per share
- Share issuance 20,000,000 new common shares to support exploration and corporate needs
- Strategic partner funding more than CAD$144 million to JOY and DUKE districts to date
Negative
- Equity dilution 20,000,000 new common shares issued in the financing
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / September 10, 2026 / Amarc Resources Ltd. ("Amarc" or the "Company") (OTCQB:AXREF)(TSXV:AHR)(FSE:AQ5) is pleased to announce the closing of its previously announced private placement (the "Offering"). The Company issued, on a private placement basis, 20,000,000 common shares of the Company (each, a "Share") at a price of CAD
"While the importance of the AuRORA Gold-Copper Deposit continues to come into focus, the institutional investors that participated in the Offering also see the broader Tier 1 potential of the JOY District in which AuRORA is located," said Amarc President and CEO Diane Nicolson. "Amarc believes AuRORA, a deposit with strong gold and copper grades in the near surface environment, continuity of mineralization, positive geometry, and growing scale, is not only important to unlocking the potential of the JOY District, but may well stand to be the key to the future development of the Toodoggone Region. I want to thank Amarc's existing investors that participated in the Offering for their continued vision and welcome the new investors who have joined us to realize the full potential of our three copper-gold districts - JOY, DUKE and IKE."
In accordance with Canadian securities laws, the Shares are subject to a four-month and one day hold period in Canada that expires January 10, 2027. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
Agentis Capital Mining Partners is acting as financial advisor to the Company.
About Amarc Resources Ltd.
Amarc is a mineral exploration and development company led by a management team with a 40-year track record of generating strong shareholder value through the discovery and development, and the successful transaction of long life, high value copper and/or gold deposits both in British Columbia and on the global stage. Through its association with Hunter Dickinson Inc. ("HDI"), a diversified, global mining company, members of Amarc's team have been associated with 36 discoveries or projects significantly advanced, 14 of which have been mined or are currently in production, with more to come.
Amarc is advancing the JOY, DUKE and IKE Districts located in prolific porphyry regions of northern, central, and southern BC, all of which are in proximity to key industrial infrastructure - including power, highways, and rail. Each District represents significant potential for the discovery and development of multiple and important-scale, porphyry copper±gold deposits. The JOY and DUKE Districts have attracted more than CAD
The JOY District hosts the metal-rich AuRORA Gold-Copper Deposit, discovered in 2024, which stands to be the key to the development of not only the District but to the entire Toodoggone Region. The JOY District is also host to multiple other historical deposits, discoveries and deposit targets. The Duke District, and the DUKE Deposit, are located in the Babine region, one of BC's most prolific porphyry copper-gold belts that includes the past producing Bell and Granisle mines and the advanced stage Morrison deposit, held by third parties. The IKE District hosts two known copper±gold deposits open for drill expansion and multiple deposit-scale targets ready for drill discovery.
Amarc has only just begun to tap the full potential of its three districts and is unlocking shareholder value through its well-funded discovery focused exploration, a highly disciplined approach to development and by consistently working to develop close partnerships with governments, communities, Indigenous groups and other stakeholders.
Qualified Person
Mark Rebagliati, P.Eng, a Qualified Person ("QP") as defined by National Instrument 43-101, has reviewed and approved all technical and scientific information contained in this news release. Mr. Rebagliati is not independent of the Company.
To ensure you receive timely updates on Amarc's progress, please be sure to subscribe to our email news alerts.
For further details on Amarc Resources Ltd., please visit our website at www.amarcresources.com or contact:
Diane Nicolson, President & CEO at +1 (778) 388 4603, Email: DianeNicolson@hdimining.com
Tom McMillan, VP Investor Relations at +1 (604) 364-8386, Email: TomMcMillan@amarcresources.com
Kin Communications at +1 (604) 684-6730, Email: AHR@kincommunications.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF AMARC RESOURCES LTD.
Dr. Diane Nicolson
President and CEO
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.
Forward Looking and other Cautionary Information
This news release includes certain statements that may be deemed "forward-looking statements". Such statements, other than statements of historical facts, include the anticipated use of proceeds from the private placement and the potential of the Company's mineral projects. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: Amarc's projects will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of Amarc's projects will continue to be positive, and no geological or technical problems will occur. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, exploration and development of properties located within Aboriginal groups asserted territories may affect or be perceived to affect asserted aboriginal rights and title, which may cause permitting delays or opposition by Aboriginal groups, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Amarc Resources Ltd., investors should review Amarc's annual Form 20-F filing with the United States Securities and Exchange Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedarplus.ca.
SOURCE: Amarc Resources Ltd.
View the original press release on ACCESS Newswire
FAQ
How will Amarc allocate the CAD$20 million in proceeds from the private placement?
The company plans to use the gross proceeds to advance any required future exploration expenditures in the JOY District, to fund working capital and general corporate purposes, to support project investigations, and to progress its other properties, including the DUKE and IKE districts.
Who is advising Amarc on this private placement?
Agentis Capital Mining Partners is acting as financial advisor to Amarc in connection with the private placement.
What larger funding has JOY and DUKE attracted from industry partners so far?
The JOY and DUKE districts have attracted more than CAD$144 million in strategic partner funding to date from two industry participants: Freeport McMoRan Minerals Properties Canada at JOY and Boliden Mineral Canada at DUKE.
What are Amarc's key copper-gold districts and what stage are they at?
Amarc is advancing the JOY, DUKE and IKE districts in British Columbia. JOY hosts the AuRORA Gold-Copper Deposit and multiple other deposits and targets; DUKE includes the DUKE Deposit in the Babine porphyry copper-gold belt; IKE hosts two known copper±gold deposits open for drill expansion and multiple deposit-scale targets ready for drill discovery.