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(TheNewswire)
December 13, 2019 – TheNewswire - Vancouver, BC - PACIFIC ARC RESOURCES LTD. (the “Company” or “Pacific Arc”) (TSXV-NEX:PAV.H) announces that the Company and Port Energy, Ltd. have agreed to terminate a previously announced letter of intent (the "LOI") between the parties due to adverse market conditions. For more information on the LOI and transactions contemplated thereby, please see the Company's news release dated November 5, 2019.
Pacific Arc will continue to identify and evaluate other opportunities.
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 news 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. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks associated with the Company’s business 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.
2019 number 6
Copyright (c) 2019 TheNewswire - All rights reserved.