CALGARY, Nov. 7, 2018 /CNW/ - ARROW Exploration Corp. ("Arrow" or the "Company") (TSXV: AXL) is pleased to announce that, subject to regulatory approval, it has engaged Integral Wealth Securities Limited ("Integral") to provide Market-Making services in accordance with TSX Venture Exchange ("TSXV") policies and guidelines and other applicable legislation.
Integral will trade securities of Arrow on the TSXV with the objective of maintaining an orderly market of the Company's securities. In consideration of the services provided by Integral, Arrow will pay Integral a monthly cash fee of $6,000 payable monthly in advance. Integral will not receive shares or options as compensation, however, Integral and its clients may have, or may acquire, a direct interest in the securities of Arrow. ARROW and Integral are unrelated and unaffiliated entities; Integral is a member of the Investment Industry Regulatory Organization of Canada ("IIROC") and can access all Canadian Stock Exchange and Alternative Trading Systems. The capital and securities required for any trade undertaken by Integral as principal will be provided by Integral. The agreement is effective November 7, 2018 and will have an initial term of three months; following the initial term, Arrow may terminate the agreement on 30 days' notice.
Integral Wealth Securities Limited is a national, independent investment dealer that provides private and public issuers with investment banking services, institutional investors and public issuers with capital markets services and affluent individuals with wealth management services. Founded in 2003, the firm has established capabilities in market making, energy banking, and private debt / equity.
About ARROW Exploration
Arrow is a publicly-traded company with a portfolio of premier Colombian oil assets that are underexploited, underexplored and offer high potential growth. The Company's self-funding business plan is to rapidly expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Caguan / Putumayo Basin. The asset base is operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. Arrow's seasoned team is led by a hands-on and in-country executive team supported by an experienced board. Arrow is listed on the TSX Venture Exchange under the symbol "AXL".
Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "may", "target", "intend", "believe", "anticipate", "estimate", "objective" and other similar words, or statements that certain events or conditions "may" or "will" occur, including without limitation statements relating to estimated production rates from the Company's properties and intended work programs and associated timelines as well as oil pricing. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking statements and information is based on certain key expectations and assumptions made by management of Arrow, including expectations and assumptions concerning regulatory approvals. The Company cannot assure that actual results will be consistent with these forward looking statements. They are made as of the date hereof and are subject to change and the Company assumes no obligation to revise or update them to reflect new circumstances, except as required by law.
SOURCE ARROW Exploration Corp.
For further information: Gary Wine, President & CEO, P: (403) 389-7079, E: [email protected]; Frederick Kozak, VP Corporate Development, P: (403) 606-3165, E: [email protected]; Eric Van Enk, CFA, VP Finance & IR, P: (403) 471-8360, E: [email protected]