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Aroway Energy Edges Lower as Exercies Share Purchase Warrants

AROWAY ENERGY INC. (ARW.V) has touched a day high 43.5 cents and a day low 41.5 cents as it reported that the company has received gross proceeds of around $2.3 milion from the exercise of 100% of the share purchase warrants issued on October 13, 2010. Furthermore, Aroway reports that the company has executed a commitment letter with Canadian Western Bank for credit facilities totaling $4.5 million.

The credit facilities, which are primarily based on the Companys NI 51-101 independent engineering report, consist of a $2.3-million revolving operating demand credit facility and a $2.2 million non-revolving acquisition/development demand facility.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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