Arrow Minerals: Raising $3.2M to accelerate exploration in Burkina Faso and WA
- Arrow Minerals will raise $3.2 million to fund drilling and exploration at various prospects in Burkina Faso and the Strickland Project in WA
- Specifically, Arrow will conduct a two tranche placement to raise $2.2 million
- Then the placement will issue over 366.6 million shares to sophisticated and professional investors at 0.6 cents each
- Additionally, Arrow will undertake an issue of one million convertible notes to raise $1 million
- Drilling will kick off next month at the Dassa gold discovery in Burkina Faso and exploration at Strickland will begin next quarter
- Company shares have dropped 22.2 per cent and are trading for 0.7 cents each
