North Arrow Enters Agreement for $3 Million Private Placement
North Arrow Minerals Inc. (TSXV:NAR) has entered into a letter of engagement with Dundee Securities Ltd. on behalf of a syndicate that includes Haywood Securities Inc., for $3,002,000. Under the letter of engagement, the Underwriters have agreed to purchase 3,160,000 flow-through common shares of North Arrow through a private placement on a bought-deal basis, subject to all required regulatory approvals, at $0.95 per share.
As quoted in the press release:
In connection with the Offering, the Underwriters will receive a cash commission equal to 5 per cent of the gross proceeds raised under the Offering. The closing date of the Offering is scheduled on or about May 28, 2015. The Offering is subject to a number of conditions, including receipt of all regulatory approvals.
The Company intends to use the gross proceeds from the Flow-Through Shares for “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)), with the Company using its best efforts to ensure that an amount equal to such proceeds will be used to incur Canadian exploration expenses related to the Company’s exploration projects. The Company will renounce such Canadian exploration expenses with an effective date of no later than December 31, 2015.
All securities issued as part of the Offering will be subject to a four-month hold period.
Click here to read the North Arrow Minerals Inc. (TSXV:NAR) press release
Click here to see the North Arrow Minerals Inc. (TSXV:NAR) profile.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1706.70 | -3.31 | |
Silver | 18.75 | -0.02 | |
Copper | 3.35 | +0.06 | |
Palladium | 1860.73 | -17.27 | |
Platinum | 875.80 | -0.20 | |
Oil | 102.48 | -1.74 | |
Heating Oil | 3.50 | -0.07 | |
Natural Gas | 7.40 | +0.14 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.