Arrow Exploration Updates On Exercise of Warrants, Voting Rights

(Arrow Exploration, 25.Apr.2022) — Arrow Exploration Corp. (AIM: AXL; TSXV: AXL) announces that pursuant to the receipt of notices for the exercise of warrants issued in October 2021, it has issued 240,000 new common shares of no par value.

Further, the company has identified that prior to its admission to AIM on 25 October 2021 there were 68,674,622 common shares in issue, and not 68,674,202 common shares as stated in the admission document. Application is therefore being made for 20 new common shares to correct this matter.

Application is being made for a 240,020 new common shares to be admitted to trading on AIM. It is expected that admission will occur on 28 April 2022. Following admission, the company will have 214,054,623 common shares in issue with voting rights and admitted to trading on AIM. This figure may be used as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to, their interest in the share capital of the company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules