Tickers: XTSX:PAV.H, XTSE:PAV.H
November 9, 2018 / TheNewswire / Vancouver, BC – PACIFIC ARC RESOURCES LTD. (the "Company" or "Pacific Arc")) (TSXV-NEX: "PAV.H") announces today that further to the news release of February 5, 2018, the Company has decided not to proceed with its proposed change of business to become an investment issuer. Management and the board of directors feel that the current economic environment is not conducive to the previously proposed business and is currently evaluating other opportunities.
The Company will be providing an update in the near term with a plan that is in keeping with the shareholder mandate.
ON BEHALF OF THE BOARD OF DIRECTORS
PACIFIC ARC RESOURCES LTD.
s/ "John MacPhail"
John MacPhail, President, CEO and Director
For further information, please contact:
John MacPhail, President, CEO & Director
Phone: (778) 688-7411
Neither 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.
Caution Concerning Forward-Looking Information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the future strategy of the Company and the possible approvals of matters by shareholders of the Company. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and, accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include, but are not limited to, failure by the Company to obtain shareholder approval of a COB; failure to obtain regulatory approval of the COB; as well as other risks and uncertainties which are more fully described in the Company’s annual and quarterly Management’s Discussion and Analysis and in other filings made by the Company with Canadian securities regulatory authorities and available at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking information or statements except as may be required by applicable law.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2018 TheNewswire – All rights reserved.