North Arrow Proposes to Extend Upcoming Warrant Expiry Dates
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/25/11 -- North Arrow Minerals Inc. (TSX VENTURE: NAR) announced today that it proposes to extend the expiry dates of subscriber warrants issued as part of two private placements in March and April, 2010. The Company proposes to extend the expiry dates for each tranche of warrants by six months; all other terms and conditions of the warrants remain unchanged. The proposed extension of the expiry dates is subject to regulatory approval.
In March 2010, the Company issued 1,390,000 warrants exercisable at $0.30 until March 26, 2011 to subscribers of a private placement. The Company proposes to extend the expiry date for these warrants by six months to September 26, 2011 from March 26, 2011.
In April 2010, the Company issued a further 2,740,500 warrants exercisable at $0.30 until April 20, 2011 to subscribers of a private placement. The Company proposes to extend the expiry date for these warrants by six months to October 20, 2011 from April 20, 2011.
Proceeds from any exercise of warrants will be used to continue to fund exploration activities and for working capital purposes.
North Arrow Minerals Inc. (TSX VENTURE: NAR)
D. Grenville Thomas, CEO and Director
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release.
Contacts:
North Arrow Minerals Inc.
D. Grenville Thomas
CEO and Director
604-668-8355
604-668-8366 (FAX)
info@northarrowminerals.com
www.northarrowminerals.com