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To: Goose94 who wrote (12186)	3/18/2015 9:05:18 AM
From: Rocket Red	of 202705

Arena Minerals arranges $1.5-million placement 2015-03-17 08:20 ET - News Release Shares issued 60,817,386 AN Close 2015-03-16 C$ 0.115 Mr. William Randall reports ARENA MINERALS ANNOUNCES PRIVATE PLACEMENT FINANCING OF $1,500,000 Arena Minerals Inc. intends to complete a non-brokered private placement financing of units of the company at a price of 10 cents per unit for gross proceeds of $1.5-million. Each unit shall consist of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one common share of the company at 15 cents for a period of 24 months from the date of issuance. Ross Beaty and associated parties intend to purchase approximately 10 million units for gross proceeds of $1-million pursuant to the terms of the offering. Upon closing of the offering, it is anticipated that Mr. Beaty will hold approximately 12 per cent of the issued and outstanding shares of the company on a non-diluted basis and will become an insider of the company. Assuming the full exercise of the warrants, upon closing of the transaction, Mr. Beaty will hold approximately 16 per cent of Arena on a partially diluted basis. The company intends to use the net proceeds of the offering to continue the development of its Atacama copper property and Pampas El Penon properties located in the Antofagasta region of northern Chile, and for general corporate purposes. The common shares, warrants and shares underlying the warrants will be subject to a four-month-and-one-day statutory hold period. Closing of the private placement transaction remains subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange and the filing of all applicable documentation with the TSX Venture Exchange. We seek Safe Harbor.

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