/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
SUDBURY, ON, Jan. 24 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the
"Company") is pleased to announce that it has entered into an agreement with
Versant Partners Inc. ("Versant") to act on behalf of the Company in
connection with a best efforts private placement to issue up to C$1,500,000 in
Common Shares (the "Shares") and up to C$1,500,000 in flow-through common
shares (the "Flow-Through Shares") of the Company at a price of $0.28 per
Share and C$0.35 per Flow-Through Share, for aggregate gross proceeds of up to
C$3,000,000 (the "Offering"). In addition, Versant will have the option to
increase the size of the Offering by up to C$500,000 worth of Shares at any
time prior to the closing date. A commission will be paid to Versant in
compliance with TSX Venture Exchange policies.
The Company plans to use the net proceeds of this financing to continue
exploration on its mineral properties and for general working capital
The Offering is scheduled to close on or about January 30, 2008, and is
subject to certain conditions including, but not limited to, the receipt of
all necessary approvals including the approval of the TSX Venture Exchange.
The securities to be issued under this offering will be offered by way of
private placement exemptions in all the provinces of Canada, offshore and in
the United States on a private placement basis pursuant to an exemption from
the registration requirements of the United States Securities Act of 1933, as
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".
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THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THIS PRESS
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. 247, E-mail: firstname.lastname@example.org or Cathy Hume, CEO, Tel: (416)
868-1079 ext. 231, E-mail: email@example.com