January 19, 2010 (FinancialWire) — Amarc Resources Ltd. (TSX Venture: AHR) (OTCBB: AXREF) said it has completed a $5.5 million private placement financing and issued 11 million common shares at a price of $0.50 per share.

The company said that 4.8 million of common shares sold in the placement are flow-through shares. The common shares are subject to a four-month hold period under applicable Canadian securities legislation.

Vancouver-based Amarc Resources is an exploration and development company affiliated with the Hunter Dickinson group, a private company.

Amarc discovered the Newton bulk tonnage-style gold system in south-central British Columbia in the late nineties. According to the company, Newton may represent a new gold deposit type for BC within a previously unrecognized district.

Planning and permitting for a 2010 drill campaign along with surface and airborne exploration activities is currently underway.

Amarc also holds, through staking and option agreement, an area of approximately 217 square kilometres along the Sitlika Belt in north-central British Columbia.

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