REG - Arrow Exploration - PDMR Exercise and Grant of Options
19/06/2025 07:00
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RNS Number : 4692N Arrow Exploration Corp. 19 June 2025
NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION.
PDMR Exercise and grant of Options
CALGARY, June 19, 2025 - Arrow Exploration Corp. ("Arrow" or the "Company")
(AIM: AXL; TSXV: AXL), the high-growth operator with a portfolio of assets
across key Colombian hydrocarbon basins, announces the exercise of stock
options, by certain Directors and Persons Discharging Managerial
Responsibilities (PDMRs) (the "Exercise"). These options were exercised due
to reaching their expiration date.
Option Exercise
The Exercise was accepted by the Company on June 17, 2025 and holders elected
to use a "cashless" exercise of options. Using this method, which is
permissible under the terms of the Company's share option plan, as approved as
a resolution by shareholders 27 September 2024, the Company pays the option
holder the value of the option (volume weighted average trading price less
strike price) from cash reserves. Accordingly, no new shares were issued for
the option exercise.
A summary of the options exercised is as follows:
Options Exercised Volume Weighted Average Trading Price
Strike Price
Gage Jull 300,000 CAD 0.05 CAD 0.4229
750,000 CAD 0.13
505,000 CAD 0.28
Marshall Abbott 133,333 CAD 0.28 CAD 0.4229
816,668 CAD 0.13
527,222 CAD 0.28
Ravi Sharma 83,333 CAD 0.26 CAD 0.4229
333,334 CAD 0.13
144,444 CAD 0.28
Anthony Zaidi 333,333 CAD 0.13 CAD 0.4229
144,444 CAD 0.28
Grant Carnie 333,333 CAD 0.26 CAD 0.4229
Ian Langley 333,333 CAD 0.33 CAD 0.4229
Joe McFarlane 300,000 CAD 0.05 CAD 0.4229
750,000 CAD 0.13
505,000 CAD 0.28
Total 6,292,778
For further Information, contact:
Arrow Exploration
Marshall Abbott, CEO +1 403 651 5995
Joe McFarlane, CFO +1 403 818 1033
Canaccord Genuity (Nominated Advisor and Joint Broker)
Henry Fitzgerald-O'Connor +44 (0)20 7523 8000
James Asensio
George Grainger
Auctus Advisors (Joint Broker)
Jonathan Wright +44 (0)7711 627449
Rupert Holdsworth Hunt
Camarco (Financial PR)
Owen Roberts +44 (0)20 3781 8331
Rebecca Waterworth
About Arrow Exploration Corp.
Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned
subsidiary Carrao Energy S.A.) is a publicly traded company with a portfolio
of premier Colombian oil assets that are underexploited, under-explored and
offer high potential growth. The Company's business plan is to expand oil
production from some of Colombia's most active basins, including the Llanos,
Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is
predominantly operated with high working interests, and the Brent-linked light
oil pricing exposure combines with low royalties to yield attractive potential
operating margins. By way of a private commercial contract with the recognized
interest holder before Ecopetrol S.A., Arrow is entitled to receive 50% of the
production from the Tapir block. The formal assignment to the Company is
subject to Ecopetrol's consent. Arrow's seasoned team is led by a hands-on
executive team supported by an experienced board. Arrow is listed on the AIM
market of the London Stock Exchange and on TSX Venture Exchange under the
symbol "AXL".
Forward-looking Statements
This news release contains certain statements or disclosures relating to Arrow
that are based on the expectations of its management as well as assumptions
made by and information currently available to Arrow which may constitute
forward-looking statements or information ("forward-looking statements") under
applicable securities laws. All statements and disclosures, other than those
of historical fact, which address activities, events, outcomes, results or
developments that Arrow anticipates or expects may, could or will occur in the
future (in whole or in part) should be considered forward-looking statements.
In some cases, forward-looking statements can be identified by the use of the
words "continue", "expect", "opportunity", "plan", "potential", "may" and
"will" and similar expressions. The forward-looking statements contained in
this news release reflect several material factors and expectations and
assumptions of Arrow, including without limitation, Arrow's expectation of the
normal course issuer bid discussed herein, the available uses of capital, ,
the potential of Arrow's Colombian and/or Canadian assets (or any of them
individually), the prices of oil and/or natural gas, and Arrow's business plan
to expand oil and gas production and achieve attractive potential operating
margins. Arrow believes the expectations and assumptions reflected in the
forward-looking statements are reasonable at this time, but no assurance can
be given that these factors, expectations, and assumptions will prove to be
correct.
The forward-looking statements included in this news release are not
guarantees of future performance and should not be unduly relied upon. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ materially
from those anticipated in such forward-looking statements. The forward-looking
statements contained in this news release are made as of the date hereof and
the Company undertakes no obligations to update publicly or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, unless so required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").
Details of the person discharging managerial responsibilities / person closely
associated
Name Gage Jull
Reason for the notification
Position/status Director, Executive Chairman
Initial notification / Amendment Initial notification
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
Name Arrow Exploration Corp.
LEI 9845000FDF0856QD9031
Details of the transaction(s): section to be repeated for (i) each type of
instrument: (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conduct
Description of the Financial instrument, type of instrument identification Stock Options
code
(ISN:CA04274P1053)
Nature of the Transaction Cashless exercise of options
Price(s) and volume(s) Options Exercise Price
300,000 CAD 0.05
750,000 CAD 0.13
505,000 CAD 0.28
Aggregated information 1,555,000 at an average exercise price of CAD 0.16
Date of the transaction June 17, 2025
Place of the transaction Outside a trading venue
Aggregated information
1,555,000 at an average exercise price of CAD 0.16
Date of the transaction
June 17, 2025
Place of the transaction
Outside a trading venue
Details of the person discharging managerial responsibilities / person closely
associated
Name Marshall Abbott
Reason for the notification
Position/status Director, CEO
Initial notification / Amendment Initial notification
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
Name Arrow Exploration Corp.
LEI 9845000FDF0856QD9031
Details of the transaction(s): section to be repeated for (i) each type of
instrument: (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conduct
Description of the Financial instrument, type of instrument identification Stock Options
code
(ISN:CA04274P1053)
Nature of the Transaction Cashless exercise of options
Price(s) and volume(s) Options Exercise Price
133,333 CAD 0.28
816,668 CAD 0.13
527,222 CAD 0.28
Aggregated information 1,477,223 at an average exercise price of CAD 0.20
Date of the transaction June 17, 2025
Place of the transaction Outside a trading venue
Aggregated information
1,477,223 at an average exercise price of CAD 0.20
Date of the transaction
June 17, 2025
Place of the transaction
Outside a trading venue
Details of the person discharging managerial responsibilities / person closely
associated
Name Ravi Sharma
Reason for the notification
Position/status Director
Initial notification / Amendment Initial notification
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
Name Arrow Exploration Corp.
LEI 9845000FDF0856QD9031
Details of the transaction(s): section to be repeated for (i) each type of
instrument: (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conduct
Description of the Financial instrument, type of instrument identification Stock Options
code
(ISN:CA04274P1053)
Nature of the Transaction Cashless exercise of options
Price(s) and volume(s) Options Exercise Price
83,333 CAD 0.26
333,333 CAD 0.13
144,444 CAD 0.28
Aggregated information 561,111 at an average exercise price of CAD 0.19
Date of the transaction June 17, 2025
Place of the transaction Outside a trading venue
Aggregated information
561,111 at an average exercise price of CAD 0.19
Date of the transaction
June 17, 2025
Place of the transaction
Outside a trading venue
Details of the person discharging managerial responsibilities / person closely
associated
Name Anthony Zaidi
Reason for the notification
Position/status Director
Initial notification / Amendment Initial notification
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
Name Arrow Exploration Corp.
LEI 9845000FDF0856QD9031
Details of the transaction(s): section to be repeated for (i) each type of
instrument: (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conduct
Description of the Financial instrument, type of instrument identification Stock Options
code
(ISN:CA04274P1053)
Nature of the Transaction Cashless exercise of options
Price(s) and volume(s) Options Exercise Price
333,334 CAD 0.13
144,444 CAD 0.28
Aggregated information 477,778 at an average exercise price of CAD 0.18
Date of the transaction June 17, 2025
Place of the transaction Outside a trading venue
Aggregated information
477,778 at an average exercise price of CAD 0.18
Date of the transaction
June 17, 2025
Place of the transaction
Outside a trading venue
Details of the person discharging managerial responsibilities / person closely
associated
Name Grant Carnie
Reason for the notification
Position/status Director
Initial notification / Amendment Initial notification
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
Name Arrow Exploration Corp.
LEI 9845000FDF0856QD9031
Details of the transaction(s): section to be repeated for (i) each type of
instrument: (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conduct
Description of the Financial instrument, type of instrument identification Stock Options
code
(ISN:CA04274P1053)
Nature of the Transaction Cashless exercise of options
Price(s) and volume(s) Options Exercise Price
333,333 CAD 0.26
Aggregated information 333,333 at an average exercise price of CAD 0.26
Date of the transaction June 17, 2025
Place of the transaction Outside a trading venue
Aggregated information
333,333 at an average exercise price of CAD 0.26
Date of the transaction
June 17, 2025
Place of the transaction
Outside a trading venue
Details of the person discharging managerial responsibilities / person closely
associated
Name Ian Langley
Reason for the notification
Position/status Director
Initial notification / Amendment Initial notification
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
Name Arrow Exploration Corp.
LEI 9845000FDF0856QD9031
Details of the transaction(s): section to be repeated for (i) each type of
instrument: (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conduct
Description of the Financial instrument, type of instrument identification Stock Options
code
(ISN:CA04274P1053)
Nature of the Transaction Cashless exercise of options
Price(s) and volume(s) Options Exercise Price
333,333 CAD 0.33
Aggregated information 333,333 at an average exercise price of CAD 0.33
Date of the transaction June 17, 2025
Place of the transaction Outside a trading venue
Aggregated information
333,333 at an average exercise price of CAD 0.33
Date of the transaction
June 17, 2025
Place of the transaction
Outside a trading venue
Details of the person discharging managerial responsibilities / person closely
associated
Name Joe McFarlane
Reason for the notification
Position/status CFO
Initial notification / Amendment Initial notification
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
Name Arrow Exploration Corp.
LEI 9845000FDF0856QD9031
Details of the transaction(s): section to be repeated for (i) each type of
instrument: (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conduct
Description of the Financial instrument, type of instrument identification Stock Options
code
(ISN:CA04274P1053)
Nature of the Transaction Cashless exercise of options
Price(s) and volume(s) Options Exercise Price
300,000 CAD 0.05
750,000 CAD 0.13
505,000 CAD 0.28
Aggregated information 1,555,000 at an average exercise price of CAD 0.16
Date of the transaction June 17, 2025
Place of the transaction Outside a trading venue
Aggregated information
1,555,000 at an average exercise price of CAD 0.16
Date of the transaction
June 17, 2025
Place of the transaction
Outside a trading venue
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