http://www.fscwire.com/newsrelease/canarc-closes-16-m-first-tranche-private-placement-financing

Vancouver, British Columbia (FSCwire) – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) is pleased to announce that it has closed the first tranche of its previously announced private placement equity financing.

The first tranche of the private placement consisted of 17,705,152 units priced at CAD$0.09 each for total proceeds of CAD$1,593,464.