Canadian Arrow grants share purchase options

Canadian Arrow grants share purchase options

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SUDBURY, ON, Oct. 6 /CNW/ - Canadian Arrow Mines Limited (the "Company") (CRO- TSX Venture) announced today that pursuant to its stock option plan and subject to approval of the TSX Venture Exchange, the Company granted a total of 1,975,000 options to nine officers, directors and employees of the Company on October 5, 2009. These options vest over a period of 18 months, have an exercise price of $0.05 per share and have a term of 5 years.


In addition, the Company has confirmed that there will be no further closings under its previously announced private placement which the Company issued 5,700,000 units at a price of $0.05 per unit for gross proceeds of $285,000 and 30,900,00 flow-through shares at a price of $0.05 per share for gross proceeds of $1,545,000.


About Canadian Arrow Mines:


Canadian Arrow Mines Limited is an experienced exploration and mine operating team that is focused on acquiring and developing economically viable nickel sulphide deposits near existing infrastructure. Arrow operates in north-western Ontario, Canada, near the towns of Kenora and Dryden. The Company's main priority is the Kenbridge Nickel Project, a nickel-copper sulphide deposit containing over 44,000 tonnes of nickel in the measured & indicated classes, (Sedar, Aug. 19, 2008), as follows: