Arrow Exploration Corp V.AXL

New Press Release - A. Alshinbayev Announces Acquisition of Common Shares of Arrow Exploration Corp.

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...read article.

[deet]

How did he manage to buy shares on the open market (TSX)  for .317 a share? In US dollars maybe but not in CDN.

[EagleHasLanded]

This is partly from the Canacol sale

[Rob0012]

DEET You asked: "How did he manage to buy shares on the open market (TSX)  for .317 a share? In US dollars maybe but not in CDN?", Well, many events took place over the recent days... The sale from Canacol took place on April 26th, as per Canacol NR from April 29th: "On April 26, 2024, Canacol sold its entire holdings in Arrow Exploration Corp. of 60,072,807 shares for gross

[deet]

So, I wonder why Canacol sold their entire investment in Arrow on April 24th. That's a lot of shares dumped at once and would explain why we are now sitting in the mid 30-cent range.  Is Canacol having financial trouble?

[Rob0012]

Exactly.  And don't formation that they trippled their investment in bit more than 2 years.  They always considered their cash in Axl as an investment.  Plus their financial challenges...  they didn't dumping their shares, since all of these we're take up on one day where Axl openede at 22p, touched 18.5 for one trade, and climbed back up to close th day at 23.5