19 June 2018
North Arrow Minerals Inc. announces that it has closed the concurrent non-brokered private placements of flow-through common shares and non-flow-through units announced on May 28, 2018.
The company has issued 10,135,000 flow-through shares at a price of $0.20 per share and 6,481,717 non-flow-through units at a price of $0.17 per non-flow-through unit for combined total gross proceeds of $3,128,892.
Proceeds from the private placement will be used to advance North Arrow's Canadian diamond projects including: i) the first ever drilling program in July 2018 at the Mel Project, Nunavut, testing diamondiferous kimberlite discovered last year; ii) the Loki Project, Northwest Territories where North Arrow recently discovered the first new kimberlite in the Lac de Gras region in over five years; and iii) continuing evaluation of the Q1-4 diamondiferous kimberlite at the Naujaat Project, Nunavut.