Canarc Arranges CA$2.0 Million Private Placement Financing; Provides El Compas Mine Project Financing Update

Vancouver, British Columbia (FSCwire)Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) (“Canarc” or the “Company”) announces that it has arranged a non-brokered private placement equity financing (the “Private Placement”) to raise aggregate gross proceeds of up to CAD$2.0 million, in which certain insiders and existing shareholders intend to participate.  The Private Placement will consist of the issuance by the Company of up to 22.2 million units (each a “Unit”) at a price of CAD$0.09 per Unit.

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