By Devika Patel
Knoxville, Tenn., March 19 - North Arrow Minerals Inc. said it has arranged a C$1 million non-brokered private placement of units.
The company will sell 5.56 million units of one common share and one half-share warrant at C$0.18 each. The whole warrants are exercisable at C$0.30 each for one year.
Proceeds will be used to advance the company's Beaverdam project and its Lac de Gras diamond project as well as for general working capital.
North Arrow is an exploration company based in Vancouver, B.C.
| Issuer: | North Arrow Minerals Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,000,800
|
| Units: | 5.56 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | March 19
|
| Stock symbol: | TSX Venture: NAR
|
| Stock price: | C$0.17 at close March 18
|
| Market capitalization: | C$6.78 million
|
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