CLL Will Run Up On This News

Look At The Bidders 1-2 Million Shares Wanted

Connacher announces pricing of equity offering
08:26 EDT Wednesday, May 27, 2009

CALGARY, May 27 /CNW/ - Connacher Oil and Gas Limited (the "Corporation" or "Connacher" - CLL - TSX) is pleased to announce that it has priced its previously announced public offering (the "Offering") of common shares (the "Common Shares"). Pursuant to the Offering, the Corporation will issue 166,750,000 Common Shares at a price of $0.90 per Common Share.

The Offering will be conducted through a syndicate of underwriters with RBC Capital Markets as sole bookrunner and co-lead manager, together with Credit Suisse Securities (Canada), Inc. and TD Securities Inc. as the other co-lead managers and Scotia Capital Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd. and Raymond James Ltd. (the "Underwriters").

Pursuant to the terms of the Offering, the Corporation has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 25,012,500 Common Shares, equal to up to 15% of the Common Shares sold pursuant to the Offering, exercisable at any time, in whole or in part, up to 30 days from the closing of the Offering.

If the over-allotment option is exercised in full, a total of 191,762,500 Common Shares will be sold under the Offering for total gross proceeds of the Offering of approximately $172,586,250.

Upon closing of the Offering, and not including Common Shares issuable pursuant to the over-allotment option, the Corporation will have 378,450,942 Common Shares (418,892,957 Common Shares on a fully diluted basis) issued and outstanding.

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Ursa Major, Canadian Arrow explore merger this will triple on this Merger

Bids Building

Throw Some Cash At This and Triple In 45 Days

Ursa Major, Canadian Arrow explore merger


00:00 EDT Tuesday, May 26, 2009

Canadian Arrow Mines Ltd. CRO-X and Ursa Major Minerals Inc. UMJ-T are considering a strategic merger that would lead to the creation of a mid-tier nickel producer in Ontario. The companies said yesterday they envision an equity swap that would have Ursa Major buy Canadian Arrow. The combined company's board would have three members nominated by Ursa Major and two by Canadian Arrow. Representatives of the two companies would also hold senior management positions. Ursa chief executive Richard Sutcliffe would be chairman of the board and CEO of the combined company while Canadian Arrow president Kim Tyler would be president and chief operating officer. The combined company would have reserves and resources containing an estimated 200 million pounds of nickel, plus significant copper and precious metal byproducts. Ursa Major shares haven't traded since May 21, when they closed at 14 cents on the Toronto Stock Exchange. CRO (TSXV) rose 1¢ to 7¢.

- This company has connections to very well funded mining operations through decades of experience. I believe Mr. Tyler when he says they are speaking with 5 strategic partners for completion of there project through joint ventures. Joint venture speculation could drive our sp into a frenzy.

- The drill program which comprised our 253 million dollar property is open at depth and further drilling could significantly increase the resource. Some of our strongest results were on outer edges of the drill zone. De-watering of the 2500 meter mine shaft will allow them to get at these areas. The intersection I speak of is the 7% nickel over 5 meters that intersection comes from the end of the drill core. Further exploration could offer up amazing results. 0 summer 2008 drill results out, any significant finds in mine ready atikocan or kenora/dryden properties will lift stock.

- The company has contractual agreements with Opiwica explorations (OPW) on the TSX.V to mill there major gold and copper find with in close proximity of Canadian Arrows Planned site. Mining could begin on both projects in early 2010. This represents earnings and is a good partnership for a company seeking to be the next significant Nickel Copper producer in Canada.

- Canadian Arrow has the ability to produce nickel in its mine at 3.47 per pound nickel. That kind of number is unheard of in comparison to other mines. With production scheduled for early 2010 (around the same time our economy should be significantly rebounding) what if nickel prices return back to 15 dollars per pound? This site will look like a gem to any investor! (plus the property would be worth about 400mil at 15 dollars per pound nickel.

This is just a few of the key points that I believe make this company look attractive. If my predictions are correct we will see a significant rebound to normal multiples over the course of the next couple of months and with any significant news pertaining to my points and our sp and volume will be sent soaring. JV with cash on the books and abilitiy to help put project into production will send our sp back to .50 if not higher! I am Bull on Canadian Arrow mines.

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Review This .pdf 12 page report:

http://www.chfir.com/CRO_Valuation/CRO_ValuationReport.pdf