New Issue: Canadian Arrow wraps C$3.1 million private placement of shares

By Devika Patel

Knoxville, Tenn., Feb. 1 - Canadian Arrow Mines, Ltd. said it completed a C$3.1 million private placement of stock. The deal priced for C$3 million with a C$500,000 greenshoe on Jan. 24.

Canadian Arrow Mines sold 5,757,143 common shares at C$0.28 apiece for C$1.61 million and 4.3 million flow-through shares at C$0.35 each for C$1.5 million.

The company planned to sell C$1.5 million in common shares and C$1.5 million in flow-through shares.

Versant Partners Inc. was the agent.

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$3,117,000.04
Greenshoe:	C$500,000
Warrants:	No
Agent:	Versant Partners Inc.
Pricing date:	Jan. 24
Settlement date:	Feb. 1
Stock symbol:	TSX Venture: CRO
Stock price:	C$0.27 at close Jan. 23
Common shares
Amount:	C$1,612,000.04
Shares:	5,757,143
Price:	C$0.28
Flow-through shares
Amount:	C$1,505,000
Shares:	4.3 million
Price:	C$0.35

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