By Devika Patel
Knoxville, Tenn., April 21 - North Arrow Minerals Inc. said it completed a C$986,580 non-brokered private placement of units. The deal priced for C$1 million on March 19.
The company sold 5,481,000 units of one common share and one half-share warrant at C$0.18 per unit. The whole warrants are exercisable at C$0.30 each for one year.
Proceeds will be used to advance the Beaverdam project and the 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$986,580
|
| Units: | 5,481,000
|
| 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
|
| Settlement date: | April 21
|
| Stock symbol: | TSX Venture: NAR
|
| Stock price: | C$0.17 at close March 18
|
| Market capitalization: | C$7.5 million
|
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