Credit: North Arrow Minerals Inc.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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.


More From The Market Herald

" Osisko Mining (TSX:OSK) announces $75 million private placement

Osisko Mining (OSK) will undertake a C$75 million bought-deal private placement.

" @ the Bell: Markets tumble amid rate worries

Canada’s main stock index was weighed down on Monday by commodity-linked and financial stocks. The telecom and utilities sectors posted some gains.
Dolly Varden Silver Corporation - President & CEO, Shawn Khunkhun.

" Dolly Varden Silver (TSXV:DV) reports highest-grade silver assay found so far on the Kitsault Valley Property

Dolly Varden Silver Corporation (DV) discovered the highest-grade silver assay found so far on the Kitsault Valley Property.

" Millennial Potash (TSXV:MLP) announces $2M private placement of units

Millennial Potash Corp. (MLP) has announced a private placement for gross proceeds of $2 million.