Canarc
Resource Corp CCM
Shares
issued 45,613,321 Feb 18 2003
close $
0.48
Tuesday
February 18 2003 News
Release
Mr.
David Tice of Prudent Bear reports Prudent Bear Funds, Inc. has
acquired control and direction, through Prudent Bear Fund, over
8,662,000 common shares and warrants to purchase an additional
250,000 common shares of Canarc Resource. The offeror would have
control and direction over 18.77 per cent of the outstanding shares
of the company assuming exercise of such warrants.
The
offeror acquired the shares and warrants for investment purposes and
has filed an early warning report with the British
Columbia,
Alberta,
Saskatchewan,
Ontario and
Nova
Scotia
securities commissions in respect of the shares and warrants
acquired.
Canarc
Resource Corp.
is a growth-oriented, gold exploration and mining company listed on
the TSX (symbol CCM) and the OTC-BB (symbol CRCUF). The Company�s principle
asset is its 100% interest in the 1.3 million oz New Polaris gold
deposit located in northwestern
British
Columbia. Major shareholders include
Barrick Gold Corp. and Echo Bay Mines
Ltd.
ON BEHALF OF THE BOARD OF
DIRECTORS
CANARC RESOURCE
CORP.
Bradford J.
Cooke
President and CEO
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