By Devika Patel
Knoxville, Tenn., Jan. 24 - Canadian Arrow Mines, Ltd. arranged a C$3 million private placement of stock.
The company will sell C$1.5 million in common shares at C $0.28 apiece and C$1.5 million in flow-through shares at C$0.35 each.
Versant Partners Inc. is the agent and will have a greenshoe of C$500,000.
Settlement is expected on Jan. 30.
Proceeds will be used for exploration and general working capital purposes.
Based in Sudbury, Ont., Canadian Arrow Mines is a base metal exploration and development company.
| Issuer: | Canadian Arrow Mines, Ltd.
|
| Issue: | Common shares, flow-through shares
|
| Amount: | C$3 million
|
| Greenshoe: | C$500,000
|
| Warrants: | No
|
| Agent: | Versant Partners Inc.
|
| Announcement date: | Jan. 24
|
| Settlement date: | Jan. 30
|
| Stock symbol: | TSX Venture: CRO
|
| Stock price: | C$0.27 at close Jan. 23
|
|
|
| Common shares
|
| Amount: | C$1.5 million
|
| Price: | C$0.28
|
|
|
| Flow-through shares
|
| Amount: | C$1.5 million
|
| Price: | C$0.35
|
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