- North Arrow Minerals (NAR) has closed its non-brokered flow-through private placement
- North Arrow has issued 9,222,000 units priced at $0.11 per unit for gross proceeds of $1,014,420
- Proceeds will be used to advance North Arrow’s Canadian diamond projects
- North Arrow is a Canadian-based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada
- North Arrow Minerals Inc. is up 4.76 per cent, trading at C$0.11 per share at 1:11 pm ET
North Arrow Minerals (NAR) announces that the non-brokered flow-through private placement has now closed.
North Arrow has issued 9,222,000 units priced at $0.11 per unit for gross proceeds of $1,014,420.
Each unit consists of a single flow-through common share and one-half of one transferable non-flow-through common share purchase warrant. Each warrant will entitle the holder to purchase one additional non-flow-through common share at a price of $0.18 for a period of two years up to May 31, 2023.
Insiders and advisors of North Arrow have participated in the private placement, subscribing for a total of 3,895,000 units for aggregate proceeds of $428,450.
Proceeds will be used to advance North Arrow’s Canadian diamond projects including a June 2021 exploration drill program at its 100% owned Loki Diamond Project in the Lac de Gras region of the Northwest Territories.
North Arrow intends to use the gross proceeds from the flow-through shares for exploration expenses related to North Arrow’s exploration projects.
North Arrow paid finders fees of $22,717.20. All securities issued in the private placement are subject to a hold period expiring October 1, 2021.
North Arrow is a Canadian-based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada.
North Arrow Minerals Inc. is up 4.76 per cent, trading at C$0.11 per share at 1:11 pm ET.