The exercise of share purchase warrants gives Canarc Resources (VSE) an additional $7.5 million in working capital, raising to $12.5 million the amount of cash on hand.
The company is carrying out a $3-million first-year exploration program on its property interests in the Guyana Shield area of South America and is set to begin another program, budgeted at $7 million.
Canarc also plans to spend about $1.25 million this year at the Polaris-Taku gold property in northwestern British Columbia.
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