Electrum to invest in North Arrow Minerals' $5 mln financing
Canadian diamond exploration company North Arrow Minerals Inc (TSX-V: NAR) has launched a private placement financing intended to raise $5 million in proceeds. Electrum Strategic Opportunities Fund, a private equity fund managed by U.S. investment firm Electrum Group, has agreed to commit $2 million to the deal, giving it a 19.01 percent interest in the company. Vancouver-based North Arrow said the funds raised will be used for working capital and to support continued evaluation of properties in Canada, including its Naujaat Diamond Project in Nunavut.
2 May 2017•3 mins read
