Cro Gets Financing $0.05 flow-through share and $0.05 per Unit for gross proceeds of up to $2,500,000.

Canadian Arrow Announces Non-Brokered Private Placement


10:34 EDT Wednesday, August 19, 2009

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/


SUDBURY, ON, Aug. 19 /CNW/ - Canadian Arrow Mines Limited (CRO: TSX-V) (the "Company") is pleased to announce that subject to regulatory acceptance, the Company is arranging a non-brokered private placement consisting of up to 30,000,000 flow-through shares and up to 20,000,000 units of the Company ("Units") at a price of $0.05 flow-through share and $0.05 per Unit for gross proceeds of up to $2,500,000. Each Unit will consist of one common share of the Company and half of one common share purchase warrant (each whole such warrant, a "Warrant"). Each whole Warrant will entitle the holder thereof to acquire one common share of the Company for a period of 18 months at a price of $0.10 per common share.

The proceeds from the private placement will be used to advance exploration on its Kenbridge nickel project, its other regional projects and to provide the Company with additional working capital.

All securities issued in connection with this financing will be subject to a four-month hold period.

The Company may pay a finders' fee of up to 5% of the gross proceeds in connection with a portion of the financing.

It is anticipated that the financing will close on or about August 28, 2009.


This press release may contain "forward-looking statements" within the meaning of the Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume, any obligation to update these forward-looking statements.


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For further information: visit the website at www.canadianarrowmines.ca, or contact Kim Tyler, President and Director, toll free, 1-877-262-6354

© Copyright Canada Newswire

Time To Cash Out Of BNK- Its Run On MoMo Now Cash Out!

Sucker Rally As Hot Money Exits The Stock Look at The Biggest Sellers This is topping just in time for Pros to cash out. The party looks like its over.

Lundin refreshes Bankers Petroleum buy

2009-08-20 17:41 ET - In the News

Brien Lundin, in the August, 2009, edition of the Gold Newsletter, refreshes his buy of Bankers Petroleum Ltd., recently $2.76. Mr. Lundin said buy Bankers in October, 2005, at 56 cents, and in March, 2005, at $1.30.

He then said sell some -- half, perhaps -- in April, 2005, at $1.80. Assuming a $1,000 investment for each of the two buys, selling half of the $2,000 investment at $1.80 would have yielded a profit of $1,241.

He said buy again five times between August, 2005, and March, 2009, at prices ranging from 52 cents to $2.14. (The stock consolidated 1:3 on July 30, 2008.) Assuming a $1,000 investment for of the five new buys, and taking into consideration the remaining $1,000 investment after the previous half sale, the total $6,000 investment is now worth $6,883.

On July 13, the company shipped its first batch of oil from Vlore, its new port in Albania. The newsletter editor says Vlore will give the company a chance to ship more oil, more safely. Production is also going well.

At Bankers's Patos Marinza oil field, the company averaged 6,385 barrels of oil per day in the second quarter of 2009, up from 5,864 barrels of oil per day in the previous quarter. Mr. Lundin says the company's liquidity has improved, production has increased and oil prices have risen, making Bankers Petroleum a buy.

Pescod on Crude

CRUDE OIL
$72.75
+1.33
At $70 a barrel for crude oil there are more
than a few people in the oil patch a little grateful
for what is going on there considering how ugly
things are in natural gas.

With 4 million barrels of production locked
in, in Saudi Arabia and inventory still signifi-
cantly above average levels in the United
States, the price of oil still looks like it could be
vulnerable to some bumps along the way but
for those looking for a little hand-holding about
oil this is probably the chart that will do it for
you.

This shows the production coming out of
Cantarell which was the second biggest oil field
in the world named after a fisherman who found
oil floating to the surface offshore Mexico.
Cantarell is the jewel in the crown of Mexico’s
national oil company Pemex.
The chart to the left shows you what is hap-
pening to this old producer...it’s declining pro-
duction recently at unbelievable rates of as
much as 35,000 barrels a month. One doesn’t
know if it could continue to drop at a level like
this but if it did this field would stop producing
within two years.

That has many implications first of all for
Mexico, suggesting that Mexico an exporter of
oil wouldn’t be able to do that within two years,
plus the national economy of Mexico is so
much dependent on the one third of its’ reve-
nue it collects from Pemex that if Pemex is in
trouble try and balance Mexico’s budget.
Cantarell is all about peak oil and suggests
that down the road oil does have a future.

Globe/CP say Delphi sees a future in owning Fairmount

Globe/CP say Delphi sees a future in owning Fairmount

2009-08-24 05:04 ET - In the News

Also In the News (C-FMT) Fairmount Energy Inc

The Globe and Mail reports in its Saturday edition that Delphi Energy is buying Fairmount Energy. A Canadian Press dispatch to The Globe reports that Delphi will swap 0.3571 of a common share for each common share of Fairmount.

The deal is worth $14.5-million, including the assumption of $7.3-million of debt and transaction costs of $1.4-million. The friendly bid will be mailed to Fairmount shareholders on Aug. 28 and will expire 35 days later, the Calgary-based oil patch junior said. The deal is backed by the boards of both companies.

Directors and senior executives of Fairmount holding more than 23.4 per cent of the company's shares have agreed to tender their stock to the bid under lockup arrangements. Delphi stock jumped a nickel Friday to close on the Toronto Stock Exchange at $1.05.

Fairmount stock shed half a penny to close on the TSX at 39.5 cents. Schachter Asset Management president Josef Schachter recommended buying Delphi stock in The Globe on Nov. 19 when it could be had for $1.20. Aston Hill Financial vice-president Joanne Hruska was bullish on Delphi in The Globe on Dec. 7, 2007, when it was worth $1.72. Mr. Schachter said buy Delphi in The Globe on June 5, 2007. It was then trading at $1.96.