Credit: North Arrow Minerals Inc.
  • North Arrow Minerals (NAR) has closed its non-brokered private placement for gross proceeds of $835,000
  • The company issued 16,700,000 units priced at $0.05 per unit
  • Proceeds will be used to advance North Arrow’s Canadian diamond projects
  • North Arrow is a Canada-based exploration company
  • North Arrow Minerals Inc. (NAR) opened trading at C$0.03

North Arrow Minerals (NAR) has closed its previously announced non-brokered private placement for gross proceeds of $835,000.

The concurrent non-brokered flow-through private placement announced on November 21, 2022, has been cancelled.

The company issued 16,700,000 units priced at $0.05 per unit. Each unit consists of one common share and one transferrable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.10 until December 28, 2024.

The warrants are subject to an acceleration clause.

Company insiders and advisors participated in the private placement, subscribing for a total of 12,000,000 units for gross proceeds of $600,000.

Proceeds will be used to advance North Arrow’s Canadian diamond projects, including the Pikoo diamond project, and for general corporate purposes.

The company paid finders fees of $4,500 and issued 90,000 finder’s warrants.

North Arrow is a Canada-based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada.

North Arrow Minerals Inc. (NAR) opened trading at C$0.03.


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