Arrow Exploration Corp. Issuance of Options and Filing of AGM Materials (4083O)
June 10 2022 - 1:01AM
UK Regulatory
TIDMAXL
RNS Number : 4083O
Arrow Exploration Corp.
10 June 2022
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.
10 June 2022
ARROW ANNOUNCES ISSUANCE OF STOCK OPTIONS AND FILING OF AGM
MATERIALS
CALGARY, June 10, 2022 - Arrow Exploration Corp. (AIM: AXL;
TSXV: AXL) ("Arrow" or the "Company"), announces the issuance of a
total of 2,300,000 stock options ("Options"), pursuant to the
Company's Stock Option Plan ("the Plan") to certain Directors and
senior management, as detailed below.
The Plan is intended to assist in attracting, retaining,
engaging, and rewarding directors, officers, employees, and
consultants of the Company, provide additional incentive to these
people for their efforts on behalf of the Company, and to align
with shareholder interests. Under the Plan, the Company can issue
Options to a maximum of 10% of the number of issued and outstanding
common shares in the Company from time to time.
Included in the total issuance of Options above, the following
have been awarded to directors/PDMRs:
Name Role Options issued Vesting Expiry
Marshall Abbott CEO & Director 400,000 1/3 yr 1, 1/3 6 months after
yr 2, 1/3 yr vest date
3
---------------------- --------------- -------------- ---------------
Phil Miller Senior VP Exploration 900,000 1/3 yr 1, 1/3 6 months after
yr 2, 1/3 yr vest date
3
---------------------- --------------- -------------- ---------------
The Options issued have an exercise price of CAD$ 0.28, the
closing market price of the Company's common shares trading on the
TSX Venture Exchange on June 9, 2022. The Options vest in thirds,
with one third vesting upon each of the first, second and third
anniversaries of issuance, and expire on six (6) months after
vesting. The grant of the Options is subject to regulatory
approval. Following the issuance of these Options, the Company
shall have a total of 15,845,000 options issued under the Plan.
AGM Materials
The Company is pleased to announce materials related to the
Annual and Special Meeting of Shareholders have been filed,
fulfilling all related regulatory requirements.
Materials for the Annual and Special Meeting of Shareholders
will be mailed no later than June 17, 2022 to Arrow Exploration
Corp. shareholders of record as at June 9, 2022. The materials
related to the Annual and Special Meeting of Shareholders are also
available on SEDAR at www.sedar.com and the Company's website at
www.arrowexploration.ca.
For further Information, contact:
Arrow Exploration
Marshall Abbott, CEO +1 403 651 5995
Joe McFarlane, CFO +1 403 818 1033
Brookline Public Relations, Inc.
Shauna MacDonald +1 403 538 5645
Canaccord Genuity (Nominated Advisor
and Joint Broker)
Henry Fitzgerald-O'Connor
James Asensio
Gordon Hamilton +44 (0)20 7523 8000
Auctus Advisors (Joint Broker)
Jonathan Wright (Corporate) + 44 (0)7711 627449
Rupert Holdsworth Hunt (Broking)
Camarco (Financial PR)
James Crothers +44 (0)20 3781 8331
Rebecca Waterworth
Billy Clegg
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. Arrow's 50%
interest in the Tapir Block is contingent on the assignment by
Ecopetrol SA of such interest to Arrow. 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".
Details of the person discharging managerial responsibilities
/ person closely associated
Name 1. Marshall Abbott
2. Phil Miller
--------------------------------------------
Reason for the notification
Position/status Director (1.)
PDMR (non-director) (2.)
--------------------------------------------
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 Options to subscribe for common
instrument, type of instrument shares of nil par value (ISN:CA04274P1053)
identification code
--------------------------------------------
Nature of the Transaction Grant of Options
--------------------------------------------
Price(s) and volume(s) Name Exercise Options
Price
Marshall
Abbott 400,000
--------
Phil Miller 900,000
--------
--------------------------------------------
Aggregated information N/A
--------------------------------------------
Date of the transaction June 9, 2022
--------------------------------------------
Place of the transaction Outside a trading venue
--------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFFFIVRVIAIIF
(END) Dow Jones Newswires
June 10, 2022 02:01 ET (06:01 GMT)
Arrow Exploration (LSE:AXL)
Historical Stock Chart
From Apr 2024 to May 2024
Arrow Exploration (LSE:AXL)
Historical Stock Chart
From May 2023 to May 2024