Attention Business Editors:
Canadian Arrow Announces Flow-Through Private Placement
SUDBURY, ON, July 11 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the
"Company") has negotiated a non-brokered private placement of up to 4,285,714
common shares to be issued on a flow-through basis at a price of $0.35 per
share (the "Offering"). Closing of the placement is expected on or before July
18, 2008. In connection with the offering the Company may pay a commission to
certain entities in the amount of 5% of the gross proceeds of the Offering.
The Offering remains subject to regulatory approval.
Proceeds from the placement will be utilised by the Company for general
exploration on its regional exploration projects in northwestern Ontario.
The Company will have 68,891,286 shares outstanding following the
completion of the offering, assuming that it is fully subscribed.
About Canadian Arrow Mines, Ltd.
Canadian Arrow Mines, Ltd. is an established Canadian exploration and
development Company committed to developing and advancing base metal deposits
close to existing infrastructure through exploration, development and
acquisition. Shares of Canadian Arrow Mines trade on the TSX Venture Exchange
under the symbol "CRO".
Investors are invited to visit Canadian Arrow's IR hub at
http://www.agoracom/IR/CanadianArrow where they can post questions and receive
answers within the same day, or simply review questions and answers posted by
other investors. Alternately, investors are able to e-mail all questions and
correspondence to CRO@agoracom.com where they can also request addition to
the investor e-mail list to receive future press releases and updates in real
time.
If you would like to receive press releases via email please
contact:mirna@chfir.com.
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THIS
PRESS RELEASE.
%SEDAR: 00008534E
For further information: visit the website at www.canadianarrowmines.ca, or
call toll free, 1-877-262-6354, or contact: Canadian Arrow Mines, Ltd.: R. Kim
Tyler, P. Geo, President, Tel: (705) 673-8259, E-mail:
kim@canadianarrowmines.ca; CHF Investor Relations: Barry Leung, Tel: (416)
868-1079 ext. 222, E-mail: barry@chfir.com; or Alison Tullis, Tel: (416)
868-1079 ext. 233, E-mail: alison@chfir.com
.
|
PRODUCER |
CODE : CRO.V |
ISIN : CA1353431010 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Canadian Arrow is a nickel and gold producing company based in . Canadian Arrow produces nickel, gold, cobalt and copper in Canada, develops cobalt, copper and nickel in Canada, and holds various exploration projects in Canada. Its main assets in production are ALEXO and CHIEF PETER LAKE in Canada, its main asset in development is KENBRIDGE in Canada and its main exploration properties are ATIKOKAN PROPERTIES, HALLIDAY DOME and HART in Canada. |