Arrow Minerals Limited announced a private placement of 435,000,000 common shares at an issue price of AUD 0.00100 for the gross proceeds of AUD 435,000 on December 13, 2023. The transaction is expected to close on December 21, 2023. The shares are restricted to a hold period of 18 months.

The transaction is subject to shareholders approval. The company to raise up to AUD 4,000,000, comprising a AUD 3,500,000 in two-tranche Placement at AUD 0.00100 per share and an SPP to raise up to an additional AUD 500,000 at the same price. Flanagan will subscribe for AUD 175,000 of shares in the Placement, subject to shareholder approval.

Current Directors Tommy McKeith Alwyn Vorster (or his nominee) and Frazer Tabeart are subscribing for AUD 150,000, AUD 100,000 and AUD 20,000 in the Placement respectively. The transaction is expected to close on December 21, 2023.