North Arrow Closes $5 Million Bought Deal Private Placement

North Arrow Minerals Inc. (TSXV:NAR) announced the closing of the bought deal private placement announced on February 3rd, 2014. Further, the over-allotment option has been extended until the tenth day following the closing date.

As quoted in the press release:

The Company has issued 7,700,000 common shares at a price of $0.65 per share for aggregate gross proceeds of $5,005,000 (the “Offering”). The net proceeds from the Offering will be used to fund North Arrow’s exploration and evaluation programs on its Canadian diamond properties, including the Qilalugaq (Nunavut), Redemption (Northwest Territories) and Pikoo (Saskatchewan) projects and for general corporate purposes.

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