SUDBURY, ON, July 11 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the
"Company") has negotiated a non-brokered private placement of up to 4,285,714
common shares to be issued on a flow-through basis at a price of $0.35 per
share (the "Offering"). Closing of the placement is expected on or before July
18, 2008. In connection with the offering the Company may pay a commission to
certain entities in the amount of 5% of the gross proceeds of the Offering.
The Offering remains subject to regulatory approval.
Proceeds from the placement will be utilised by the Company for general
exploration on its regional exploration projects in northwestern Ontario.
The Company will have 68,891,286 shares outstanding following the
completion of the offering, assuming that it is fully subscribed.
About Canadian Arrow Mines, Ltd.
Canadian Arrow Mines, Ltd. is an established Canadian exploration and
development Company committed to developing and advancing base metal deposits
close to existing infrastructure through exploration, development and
acquisition. Shares of Canadian Arrow Mines trade on the TSX Venture Exchange
under the symbol "CRO".
Investors are invited to visit Canadian Arrow's IR hub at
http://www.agoracom/IR/CanadianArrow where they can post questions and receive
answers within the same day, or simply review questions and answers posted by
other investors. Alternately, investors are able to e-mail all questions and
correspondence to CRO@agoracom.com where they can also request addition to the
investor e-mail list to receive future press releases and updates in real
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THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THIS
For further information:
For further information: visit the website at www.canadianarrowmines.ca,
or call toll free, 1-877-262-6354, or contact: Canadian Arrow Mines, Ltd.: R.
Kim Tyler, P. Geo, President, Tel: (705) 673-8259, E-mail:
email@example.com; CHF Investor Relations: Barry Leung, Tel: (416)
868-1079 ext. 222, E-mail: firstname.lastname@example.org; or Alison Tullis, Tel: (416)
868-1079 ext. 233, E-mail: email@example.com