02:56 PM EDT, 05/08/2024 (MT Newswires) -- Askar Alshinbayev, a founding partner of and principal at Meridian Capital Limited, reported Wednesday the acquisition of common shares of Arrow Exploration Corp. ( CSTPF ) , which at last look was down 0.005 at $0.34.

On May 3, 2024, Alshinbayev purchased more than 48 million common shares in an open market purchase on the TSX at a price of $0.317 each, for aggregate consideration of more than $15.2 million, a statement said.

As a result of the purchase transaction, Alshinbayev acquired 48 million Common Shares, representing approximately 16.8% of the issued and outstanding Common Shares, the statement added.

According to the press release, the Purchase Transaction and the Sale Transaction were solely for investment purposes.