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North Arrow Minerals Inc. (TSXV:NAR) intends to complete a non-brokered private placement of up to 7,000,000 shares, for total gross proceeds of $3,500,000, at a price of $0.50 per share. The Company also intends to complete a non-brokered private placement of up to 3,000,000 flow-through shares, for gross proceeds of $1,800,000, at a price of $0.60 per share.
As quoted in the press release:
…intends to complete a non-brokered private placement of up to 7,000,000 shares at a price of 50 cents per share for total gross proceeds of $3,500,000.
North Arrow also intends to complete a non-brokered private placement of up to 3,000,000 flow-through shares at a price of 60 cents per share for gross proceeds of $1,800,000. The gross proceeds of the flow-through shares will be used by North Arrow to incur Canadian exploration expenses prior to December 31, 2014, on North Arrow’s Canadian diamond properties. North Arrow will renounce the qualifying expenditures to subscribers of the flow-through shares for the fiscal year ended December 31, 2013.
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