VANCOUVER, Canada September 14 2011 – Arrowhead Gold Corp. (the “Company”) (TSXV: AWH) is pleased to announce it has closed its non- brokered private placement for gross proceeds totalling $490,000. These finances were raised by the company issuing up to 3.5 million units at a price of 14 cents 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 one year, at a price of 25 cents.
A cash commission of 8 per cent totalling $19,812.80 was paid by the Company, on a portion of the gross proceeds of the offering, to the agents as consideration for arranging the offering. The Company also issued agents’ warrants, which entitle the agents to purchase up to 141,250 common shares of the Company at a price of 25 cents per share until September 9, 2012.
The securities issued pursuant to the offering, and any common shares to be issued upon the exercise of the warrants and agents’ warrants, are subject to a hold period expiring January 8, 2012.
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.
