News: AMD Arrow Minerals Says David Flanagan To Be Appointed Arrow Managing Director

Dec 13 (Reuters) - Arrow Minerals Ltd (AMD) :

• DAVID FLANAGAN TO BE APPOINTED ARROW MANAGING DIRECTOR
• ARROW TO RAISE UP TO A$4.0M
• CURRENT EXECUTIVE CHAIRMAN TOMMY MCKEITH TO BECOME A NON- EXECUTIVE DIRECTOR
• JEFF DOWLING TO JOIN AS NON-EXECUTIVE CHAIR
• INTENDS TO RAISE A$3.5M VIA A TWO-TRANCHE SHARE PLACEMENT AT 0.1 AU C PER SHARE
• PLACEMENT AT 0.1 AU CENTS PER SHARE
• HAS REACHED AGREEMENT WITH HOLDERS OF ITS EXISTING A$1M CONVERTIBLE NOTE
• SPP TO RAISE UP TO AN ADDITIONAL A$500,000 AT 0.1 AU CENTS PER SHARE
• CN HOLDERS WILL CONVERT A$500,000 OF CN INTO ARROW ORDINARY SHARES AT A 25% PREMIUM TO EQUITY RAISING PRICE