• AIM Admission Document: Link
  • Certificate of Amalgamation: Link
  • Certificate of Status: Link
  • Certificate of Change of Name: Link
  • 2021 Information Circular: Link

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy S.A.) is a publicly traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. Arrow’s 50% interest in the Tapir Block is contingent on the assignment by Ecopetrol SA of such interest to Arrow. Arrow’s seasoned team is led by a hands-on executive team supported by an experienced board.

Biographies for each of the Company’s Directors can be found here: Link

The Board is committed to the highest level of corporate governance. See Arrow’s corporate governance policies and charters here.

Arrow Exploration is incorporated in Canada. There are significant differences between UK corporate law and those applicable to the Company by means of its incorporation in Alberta, Canada. As a result, rights of shareholders may be different from the rights of shareholders in a UK incorporated company.

The Company’s main country of operation is the Republic of Colombia.

Arrow Exploration trades on AIM under the ticker ‘AXL’ and also on the TSX Venture (TSX-V) exchange under the ticker ‘AXL’. The TSX-V is a stock exchange in Canada. It is headquartered in Calgary, Alberta.

The Company is not subject to the UK City Code on Takeovers and Mergers. As a company incorporated in Alberta and listed on the TSX Venture Exchange, takeover bids are regulated by Canadian law. However, Canadian laws applicable to the Company provide for early warning disclosure requirements and for takeover bid rules designed to ensure procedural fairness for any takeover bids made to security holders in various jurisdictions in Canada.

As the Company is incorporated in Canada, shareholders’ rights may be different from the rights of shareholders in a UK incorporated company.

Rule 17 of the AIM Rules requires, inter alia, that an AIM quoted company must notify the market of any changes of which it is aware to its Shareholders’ interests in three percent or more of the Common Shares and changes thereto (of any movements through a percentage point upwards or downwards). As the Company is incorporated in Alberta, provisions have been incorporated into the Articles (and approved by Shareholders at the Special Meeting held on June 3, 2021) which, to the extent possible, mirror the requirements of DTR 5 which require that Shareholders holding interests in three percent or more of the Company’s Common Shares inform the Company thereof and to inform the Company of relevant subsequent changes thereto.

Percentage of securities not in public hands: 25.7%

Number of shares in issue: 213,389,643

Number of shares in treasury: Nil

Substantial and Significant Shareholder Number of Common Shares Percentage of Issued Share Capital
Canacol Energy41,715,20519.55%
Tim Leslie20,408,1639.56%
Edale Capital LLP17,492,7118.20%
Spreadex Ltd12,705,0005.95%
David and Monique Newlands6,400,0003.00%

Last updated: December, 2021

Arrow’s financial reports are available here: Link

Arrows news releases are available here: Link

Relevant investor notices are available on the Company’s Investor Centre page found here: Link

Nomad and Broker
Canaccord Genuity Limited
88 Wood Street
London, GB, EC2V 7QR

Capital Markets Adviser
Auctus Advisors LLP
London, GB

Auditors
Deloitte LLP
Suite 700, 850 – 2nd Street SW
Calgary, AB, T2P 0R8

Legal Advisers to the Company
Gowling WLG International Limited
Suite 1600, 421 – 7 Ave SW
Calgary, AB, T2P 4K9

Registrars
Computershare Trust Company
Suite 800, 324 8 Ave SW
Calgary, AB, T2P 2Z2

New Common Shares pursuant to the Placing may not be resold sold into Canada or on a Canadian exchange for four months and one day from the date of the Placing.

Last updated April 22, 2022