North Arrow Minerals Arranges $5M Private Placement

 North Arrow Minerals Inc. (TSXV:NAR) entered into a letter of engagement with Dundee Securities Ltd., on behalf of a syndicate including Mackie Research Capital Corporation, where they have agreed to purchase 7,700,000 common shares of the Company at a price of $0.65 per share, for total gross proceeds of $5,005,000.

As quoted in the press release:

The Underwriters have been granted the option to purchase up to an additional 2,300,000 Shares of the Offering, for additional gross proceeds of $1,495,000, exercisable in whole or in part at any time up to 48 hours prior to the closing date. In connection with the Offering, the Underwriters will receive a cash commission equal to 5 per cent of the gross proceeds raised under the Offering, inclusive of the option. The closing date of the Offering is scheduled on or about February 25, 2014.

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