By Laura Lutz
Des Moines, Sept. 18 - Canadian Arrow Mines, Ltd. closed an upsized private placement of units for C$1,117,600.
The deal was announced with a maximum size of C$870,000 on Aug. 1 and increased to C$1.12 million on Aug. 3.
In the final placement, the company sold 3.52 million flow-through units at C$0.13 each and 6.6 million non-flow-through units at C$0.10 each.
Each unit consists of one flow-through or non flow-through share and one half-share warrant. Each full warrant is exercisable at C$0.15 for two years.
Toll Cross Securities Inc. was the placement agent.
Canadian Arrow is a base metals mining company with headquarters in Timmins, Ont.
| Issuer: | Canadian Arrow Mines, Ltd.
|
| Issue: | Flow-through and non flow-through units of one share and one half-share warrant
|
| Amount: | C$1,117,600
|
| Agent: | Toll Cross Securities Inc.
|
| Settlement date: | Sept. 18
|
| Stock symbol: | Venture: CRO
|
| Stock price: | C$0.15 at close on Sept. 15
|
|
|
| Flow-through units
|
| Units: | 3.52 million
|
| Price: | C$0.13
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
|
|
| Non flow-through units
|
| Units: | 6.6 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
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