Canarc Resource Corp. (“Company”) (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) announces that it has arranged and closed a flow-through equity financing of $500,000 with one institutional investor.

The financing consisted of 3,846,154 flow-through common shares of the Company priced at $0.13 each. The flow-through shares are subject to a hold period under securities laws until August 22, 2017.

In consideration of this financing, the Company paid a finder’s fee of $32,500 cash and issued 250,000 finder’s warrants of the Company (the “Warrants”) to a finder at arm’s length to the Company. Each Warrant entitles the holder to purchase one non-flow-through common share of the Company at an exercise price of $0.15 for a two-year period. The Warrants, and any common shares of the Company issuable upon exercise of the Warrants, will have no flow-through tax benefits.

The proceeds of the flow-through financing will be used for exploration at FG Gold Project that is scheduled to complete, subject to permitting, in September 2017.


Catalin Chiloflischi”