Vancouver, British Columbia CANADA - August 25, 2010 (Investorideas.com Mining stocks Newswire) North Arrow Minerals Inc. (NAR: TSXV), ("North Arrow" or the "Company") is pleased to announce the closing on August 20, 2010 of a non-brokered private placement announced on July 16, 2010 and as amended on August 4, 2010. On August 20, 2010, North Arrow issued 3,958,333 flow-through units (the "FT Units") at a price of $0.18 per FT Unit, for gross proceeds of $712,500. Each FT Unit consists of one flow-through common share of the Company and one-half of one non-flow-through common share purchase warrant.
Each full warrant entitles the holder to purchase one additional common share of the Company until August 20, 2011 at a price of $0.25 per share. The warrants are transferrable. The common shares issued as part of this private placement and any common shares issued upon the exercise of the warrants are subject to a hold period which expires December 21, 2010.
- Published: 24 August 2010
- Written by Investor Ideas