New Issue: Arsenal settles C$1.75 million sale of flow-through shares

By Sheri Kasprzak

New York, Dec. 22 - Arsenal Energy Inc. said it has concluded a private placement of stock for C$1,745,598.

The company sold 997,485 flow-through shares at C$1.75 each.

Proceeds will be used for exploration and drilling on the company's Canadian properties.

Based in Calgary, Alta., Arsenal is an oil and natural gas exploration, development and production company.

Issuer:	Arsenal Energy Inc.
Issue:	Flow-through shares
Amount:	C$1,745,598
Shares:	997,485
Price:	C$1.75
Warrants:	No
Settlement date:	Dec. 21
Stock price:	C$1.54 at close Dec. 21

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