By Sheri Kasprzak
Atlanta, Jan. 5 - Canadian Arrow Mines Ltd. said it wrapped a private placement for C$862,570, less than its previously announced C$1 million offering.
The company sold 1,327,030 units at C$0.65 each. The units are comprised of one flow-through share and one half-share warrant.
The whole warrants allow for an additional share at C$0.70 each for one year.
The offering was first announced Dec. 7 as a C$1 million deal consisting of up to 1.5 million units under the same terms.
Based in Timmins, Ont., Canadian Arrow Mines is a base metal exploration and development company. It intends to use the proceeds from the financing to explore its grassroots exploration projects.
| Issuer: | Canadian Arrow Mines Ltd.
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| Issue: | Units of one flow-through share and one half-share warrant
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| Amount: | C$862,570
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| Units: | 1,327,030
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| Price: | C$0.65
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.70
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| Settlement date: | Jan. 5
|
| Stock price: | C$0.455 at close Dec. 31 (last trade)
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