TSX.V - AWS
VANCOUVER, March 15, 2012 /PRNewswire/ - Robert L. Card, President of Arrowstar Resources
Ltd. ("Arrowstar" or the "Company"), is pleased to report that
the Company has arranged a non-brokered private placement of
$ 450,000 to be raised through the
issuance of 6,000,000 non- flow-through units at a price of
7.5 cents per unit. Each unit will
comprise one non-flow-through common share and one common share
purchase warrant for a term of 24 months. One warrant will entitle
the holder to purchase one common share at a price of 15 cents per share for two years.
The proceeds of the financing will be added to working capital
and also used to further explore the Company's iron ore prospects
located in Alaska, Quebec and Labrador.
The securities issued pursuant to the private placement will be
subject to a hold period of four months and one day from the
closing. The company may pay finders' fees in connection with the
private placement, subject to compliance with the policies of the
TSX Venture Exchange. Completion of the private placement and the
payment of any finders' fees remain subject to the receipt of all
necessary regulatory approvals, including the approval of the
exchange.
On Behalf of the Board of Directors,
Arrowstar Resources Ltd.
"Robert L. Card"
Robert L. Card
President
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Forward-Looking Statements: This document
includes forward-looking statements. Forward-looking statements
include, but are not limited to, statements concerning AWS's
planned exploration programs in North
America and other statements that are not historical facts.
When used in this document, the words such as "could," "plan,"
"estimate," "expect," "intend," "may," "potential," "should," and
similar expressions are forward-looking statements. Although AWS
believes that its expectations reflected in these forward looking
statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results
will be consistent with these forward-looking statements. Important
factors that could cause actual results to differ from these
forward-looking statements are disclosed under the heading "Risk
Factors" and elsewhere in the corporation's periodic filings with
Canadian securities regulators.
SOURCE Arrowstar Resources Ltd.