VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 18, 2017) – Ross J. Beaty, of 1550 – 625 Howe Street, Vancouver, British Columbia, V6C 2T6, announced today that he acquired ownership of 8,000,000 units (“Units“) of North Arrow Minerals Inc. (“NAM“), a company with an office at Suite 960, 789 West Pender Street, Vancouver, British Columbia, V6C 1H2, by way of a private placement from treasury for a purchase price of CDN$0.25 per Unit and an aggregate purchase price of CDN$2,000,000 (the “Private Placement“). Each Unit consists of one common share of NAM (a “Common Share“) and one Common Share purchase warrant (a “Warrant“) of NAM. Each Warrant is exercisable into one Common Share of NAM for a period of three years from today at an exercise price of CDN$0.40.
After completion of the Private Placement, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 8,000,000 Common Shares and 8,000,000 Warrants. The 8,000,000 Common Shares represent approximately 10.5% of the total number of issued and outstanding Common Shares of NAM. If all of Mr. Beaty’s 8,000,000 Warrants were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 19.0% of the issued and outstanding Common Shares of NAM.
Mr. Beaty’s acquisition was made for investment purposes. Mr. Beaty may in the future and in accordance with applicable securities laws, increase or decrease his investment in NAM by acquiring or disposing of securities of NAM through the market, privately or otherwise, depending on market conditions or any other relevant factors.
For more information, or to obtain a copy of the subject early warning report, please contact Ross J. Beaty.
]]>Ross J. Beaty
1550 – 625 Howe Street
Vancouver, British Columbia
Telephone: (604) 806-3173
Facsimile: (604) 684-0147