VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2011) - Arrowhead Gold Corp., (the "Company") (TSX VENTURE:AWH) announces that it has arranged, subject to the acceptance of the TSX Venture Exchange, a private placement totaling $500,000. These funds will be raised by the Company issuing up to 5 million units at a price of $0.10 per unit, each unit consisting of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder, on exercise, to purchase one common share for a period of two years, at a price of $0.15.
Finder's fees may be payable on a portion of the private placement, in accordance with the policies of the TSX Venture Exchange.
The net proceeds of the private placement will be used to further exploration on the Company's properties and for working capital purposes.
The Company's drill program on its wholly owned Puruni Gold Project in Guyana, SA is anticipated to commence on Wednesday November 16, 2011.
On Behalf of the Board of Arrowhead Gold Corp.
Steve Smith, President
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Steve Smith
President
604 642-0115
604 642-0116 (FAX)
steve@otishenergyinc.com