Arrow Exploration Corp (TSE:AXL) has released an update.
Arrow Exploration Corp. has announced a cashless exercise of stock options by its Directors and key management personnel, which was completed using the company’s cash reserves, eliminating the need for issuing new shares. The transaction, which involved a total of 3,465,554 options, was conducted on July 2, 2024, with no further dilution to current shareholders. This strategic financial move reflects Arrow Exploration’s commitment to leveraging its Colombian oil assets for growth without diluting shareholder value.
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