ARROWSTAR RESOURCES LTD. ("AWS")
BULLETIN TYPE: Property-Asset or Share Acquisition Agreement, Private Placement-Non-Brokered
BULLETIN DATE: June 21, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange (the 'Exchange') has accepted for filing an assignment agreement dated March 29, 2016 (the "Agreement") between Arrowstar Resources Ltd. (the "Company") and Performance Acquisitions, LLC ("Performance") under which Performance has assigned its interest in an option agreement with NJB Mining Inc. ("NJB") under which Performance has the option (the "Option") to acquire up to a 100% interest in the Tin Cup and FM (Secret Pass) concessions (together, the "Property") from NJB (the "Transaction").
As consideration for the assignment of the Option, the Company will issue an aggregate of 5,000,000 common shares of the Company to Performance as follows:
* 1,500,000 common shares upon receipt by the Company of Exchange approval of the Transaction.
* 1,000,000 common shares upon completion of Phase 1 exploration requirements.
* 1,000,000 common shares upon completion of Phase 2 exploration requirements.
* 1,500,000 within 14 days of the earlier of the 18-month anniversary of the date of the Agreement, being March 29, 2016 or the approval from the Arizona Bureau of Land Management of the production plan to commence mining and production.
Insider / Pro Group Participation: Nil
For further information please refer to the Company's news release dated April 19, 2016 which is available
under the Company's profile on SEDAR.
Private Placement
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced April 19, 2016:
Number of Shares: 6,900,000 shares
Purchase Price: $0.05 per share
Warrants: 6,900,000 share purchase warrants to purchase 6,900,000 shares
Warrant Exercise Price: $0.085 for a one year period
$0.12 in the second year
Number of Placees: 31 Placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Panopus PLC (Phillip Thomas) Y 500,000
Aggregate Pro Group Involvement
[2 Placees] 600,000
Finder's Fee: Haywood Securities will receive a finder's fee of $6,400.00
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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