Company: AXREF
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001654954-25-008549
Chunk: 71

Company: AMARC RESOURCES LTD
Filing Date: 2025-07-28
Form: 20-F
Item: Item 10
Chunk 71
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atriates or former long-term residents of the U. S.; (b) persons that have been, are, or will be a resident or deemed to be a resident in Canada for purposes of the Income Tax Act (Canada); (c) persons that use or hold, will use or hold, or that are or will be deemed to use or hold our common shares in connection with carrying on a business in Canada; (d) persons whose common shares in our Company constitutes “taxable Canadian property” under the Income Tax Act (Canada); or (e) persons that have a permanent establishment in Canada for purposes of the Canada-U. S. Tax Convention. U. S. Holders that are subject to special provisions under the Code, including U. S. Holders described immediately above, should consult their own tax advisors regarding all U. S. federal, U. S. state and local, and non-U. S. tax consequences (including the potential application and operation of any income tax treaties) relating to the acquisition, ownership or disposition of our common shares.

If an entity or arrangement that is classified as a partnership (or other “pass-through” entity) for U. S. federal income tax purposes holds our common shares, the U. S. federal income tax consequences to such partnership and the partners (or other owners) of such partnership of the acquisition, ownership or disposition of our common shares generally will depend on the activities of the partnership and the status of such partners (or other owners). This summary does not address the U. S. federal income tax considerations for any such partner or partnership (or other “pass-through” entity or its owners). Owners of entities and arrangements that are classified as partnerships (or other “pass-through” entities) for U. S. federal income tax purposes should consult their own tax advisors regarding the U. S. federal income tax consequences of the acquisition, ownership or disposition of our common shares.

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Passive Foreign Investment Company Rules

If the Company were to constitute a “passive foreign investment company” under the meaning of Section 1297 of the Code (a “ PFIC”, as defined below) for any year during a U. S. Holder’s holding period, then certain potentially adverse rules will affect the U. S. federal income tax consequences to a U. S. Holder resulting from the acquisition, ownership and disposition of common shares. The Company believes that it was classified as a PFIC during the tax year ended March 31,