Dundee Securities and Haywood Securities raise funds for exploration
By Devika Patel
Knoxville, Tenn., May 28 – North Arrow Minerals Inc. said it completed a C$4 million private placement of stock. The deal priced for C$3 million on May 8 and was conducted by a syndicate of underwriters led by Dundee Securities Ltd. and including Haywood Securities Inc.
The company sold 4,211,000 flow-through common shares at C$0.95 per share on a bought-deal basis. The price per share reflects a 4.4% premium to the May 7 closing share price of C$0.91.
Proceeds will be used for exploration.
North Arrow is a diamond exploration company based in Vancouver, B.C.
| Issuer: | North Arrow Minerals Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4,000,450
|
| Shares: | 4,211,000
|
| Price: | C$0.95
|
| Warrants: | No
|
| Underwriters: | Dundee Securities Ltd. (lead), Haywood Securities Inc.
|
| Pricing date: | May 8
|
| Settlement date: | May 28
|
| Stock symbol: | TSX Venture: NAR
|
| Stock price: | C$0.91 at close May 7
|
| Market capitalization: | C$48.78 million
|
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