REG - Arrow Exploration - Exercise of Warrants and TVR

Arrow ExplorationAnnouncement

25/10/2023 07:00

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RNS Number : 1750R  Arrow Exploration Corp.  25 October 2023

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.

ARROW'S EXERCISE OF WARRANTS AND TOTAL VOTING RIGHTS

Issue of Equity & Total Voting Rights

 

CALGARY, October 25, 2023 - Arrow Exploration Corp. (AIM: AXL; TSXV: AXL)
("Arrow" or the "Company"), the high-growth operator with a portfolio of
assets across key Colombian hydrocarbon basins, announces that pursuant to the
receipt of notices for the exercise of warrants issued in October 2021, it has
issued 2,333,026 new Common Shares of no par value ("Common Shares").

 

Of the 2,333,026 new Common Shares, 2,086,293 have been issued under the
Company's block listing filed in May 2023. An application has been made for
the remaining 250,733 new Common Shares to be admitted to trading on AIM
("Admission"). It is expected that Admission of the 250,733 Common Shares not
included in the block listing will occur on 27 October 2023.

 

Following the issue under the block listing and the Admission of the new
Common Shares, the issued share capital of the Company will comprise of
285,864,348 Common Shares with one vote per share. This figure may be used as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to, their interest in the
share capital of the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules. Additionally, as of today, the
Company still has 375,000 warrants outstanding to be exercised until November
of this year.

 

For further Information, contact:

 Arrow Exploration
 Marshall Abbott, CEO                                                                   +1 403 651 5995
 Joe McFarlane, CFO                                                                     +1 403 818 1033

 Brookline Public Relations, Inc.                                                       +1 403 538 5645

 Shauna MacDonald

 Canaccord Genuity (Nominated Advisor and Joint Broker)
 Henry Fitzgerald-O'Connor                                                              +44 (0)20 7523 8000

 James Asensio

 Gordon Hamilton

 Auctus Advisors (Joint Broker)
 Jonathan Wright (Corporate)                                                            +44 (0)7711 627449
 Rupert Holdsworth Hunt (Broking)

 Camarco (Financial PR)
 Andrew Turner                                                                          +44 (0)20 3781 8331
 Rebecca Waterworth
 Kirsty Duff

 

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 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 information ("forward-looking statements") under
applicable securities laws. All such statements and disclosures, other than
those of historical fact, which address activities, events, outcomes, results
developments that Arrow anticipates expects may, occur in the future (in whole
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" 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 evaluation of the impacts of
COVID-19, the potential of Arrow's Colombian and/Canadian assets (any of them
individually), the prices of oil and/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 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 revise any
forward-looking statements, whether as a result of new information, future
events otherwise, unless so required by applicable securities laws.

Neither TSX Venture Exchange nits Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility of
the adequacy accuracy of this release.

 

 

 

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