HONG
KONG, May 8, 2024 /CNW/ - A. Alshinbayev
reports the acquisition of common shares of Arrow Exploration
Corp. ("Arrow") (TSXV: AXL) (AIM: AXL). On May 3, 2024, Mr. Alshinbayev purchased 48,046,402
Common Shares in an open market purchase on the TSX at a price of
$0.317 per Common Shares (£0.185),
for aggregate consideration of approximately $15,243,922.19 (£8,888,584.37) (the "Purchase
Transaction").
Immediately prior to the Purchase Transaction, Mr. Alshinbayev
did not own or exercise control or direction over any Common
Shares. As a result of the Purchase Transaction, Mr. Alshinbayev
acquired 48,046,402 Common Shares, representing approximately 16.8%
of the issued and outstanding Common Shares.
The Purchase Transaction and the Sale Transaction were solely
for investment purposes. Mr. Alshinbayev may take actions in
the future in respect of his security holdings in Arrow based on
the then existing facts and circumstances, which actions could
include, without limitation, acquisitions or dispositions of Common
Shares, whether in the open market, by privately negotiated
agreement or otherwise.
Arrow's head office is located at 1430, 333 11th
Avenue SW, Calgary, AB T2R
1L9.
This press release is being issued pursuant to NI 62-103,
which requires an early warning report to be filed under Arrow's
profile on SEDAR (www.sedarplus.ca) containing further information
respecting the foregoing matters. For a copy of such report or
further information, you may contact:
SOURCE A. Alshinbayev