By Laura Lutz
Des Moines, April 17 - Canadian Arrow Mines Ltd. settled its previously announced private placement of units for C$7.5 million, including an expanded greenshoe for C$2.5 million.
The company sold 5 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.
The deal priced on March 29 as a C$5 million offering of 10 million units with a greenshoe for 1.5 million units.
When it settled, the greenshoe included 5 million units.
Canaccord Capital Corp. was the agent.
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$7.5 million
|
| Units: | 15 million (includes greenshoe for 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
|
| Stock price: | C$0.61 at close April 16
|
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