By Laura Lutz
Des Moines, March 29 - Canadian Arrow Mines Ltd. arranged a private placement of units for C$5 million.
The company plans to sell 10 million units of one share and one half-share warrant at C$0.50 per unit. Each whole warrant will be exercisable at C$0.70 for 18 months.
Canaccord Capital Corp., the agent, has a greenshoe for up to 1.5 million more units, exercisable up to 48 hours before closing.
Settlement is expected on April 17.
Canadian Arrow is a mineral exploration and development company based in Timmins, Ont.
| Issuer: | Canadian Arrow Mines Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5 million
|
| Units: | 10 million
|
| Greenshoe: | 1.5 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.70
|
| Agent: | Canaccord Capital Corp.
|
| Pricing date: | March 29
|
| Settlement date: | April 17
|
| Stock symbol: | TSX Venture: CRO
|
| Stock price: | C$0.56 at close March 29
|
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