Trading Symbol: TSXV: NAR
VANCOUVER, BC, Sept. 13,
2024 /CNW/ - North Arrow Minerals Inc. (TSXV:
NAR) ("North Arrow" or the "Company") announces that,
further to its news release of September 3,
2024, the Company has received the approval of the TSX
Venture Exchange to the previously announced 10:1
consolidation.
Effective as of the opening of trading on September 17, 2024, the Company's share capital
will be trading on a post-consolidated basis under the same stock
symbol NAR. Letters of transmittal describing the process by
which shareholders may obtain new certificates representing their
consolidated common shares will be mailed shortly to registered
shareholders. Shareholders who hold their shares through a
broker or other intermediary and do not have shares registered in
their name will not be required to complete a letter of
transmittal. No fractional shares will be issued under the
share consolidation, and any fractional common shares equal to or
greater than one-half will be rounded to the next whole number,
otherwise, the fractional common shares will be cancelled.
Following the consolidation, North Arrow will have issued and
outstanding approximately 17,580,224 common shares. All
outstanding options and share purchase warrants of the Company will
be adjusted accordingly to reflect the share consolidation.
The directors believe the share consolidation will put the
Company in a better position to finance its exploration and
development activities. In particular, in light of the
current market conditions, the Company believes it will be
beneficial to the current shareholders to have the issued share
capital made more attractive to future investors.
About North Arrow Minerals
North Arrow is a Vancouver,
BC-based exploration company with a management, board of
directors and advisors having significant successful experience in
the global exploration and mining industry. North Arrow is
currently focused on the evaluation of the Kraaipan Gold Project in
Botswana and is also evaluating
spodumene pegmatites at its 100% owned LDG, MacKay, and DeStaffany
Lithium Projects (NWT) and maintaining its diamond interests in the
Naujaat (NU), Pikoo (SK), and Loki (NWT) Projects. North Arrow's
exploration programs are conducted under the direction of
Kenneth Armstrong, P.Geo. (NWT/NU,
ON), President and CEO of North Arrow and a Qualified Person under
NI 43-101.
North Arrow Minerals Inc.
/s/ "Kenneth A. Armstrong"
Kenneth Armstrong
President and CEO
Neither the TSX Venture Exchange nor its
Regulation Services Provider accepts responsibility
for the adequacy or accuracy of this release.
This news release contains "forward-looking statements"
including but not limited to statements with respect to North
Arrow's plans, the estimation of a mineral resource and the success
of exploration activities. Forward-looking statements, while based
on management's best estimates and assumptions, are subject to
risks and uncertainties that may cause actual results to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the successful integration of acquisitions; risks
related to general economic and market conditions; closing of
financing; the timing and content of upcoming work programs; actual
results of proposed exploration activities; possible variations in
mineral resources or grade; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes,
title disputes, claims and limitations on insurance coverage and
other risks of the mining industry; changes in national and local
government regulation of mining operations, tax rules and
regulations. Although North Arrow has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. North Arrow undertakes no
obligation or responsibility to update forward-looking statements,
except as required by law.
SOURCE North Arrow Minerals Inc.