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Arrow Proceeds With Financing NEW YORK, NY--(MARKET WIRE)--Aug 14, 2008 -- Arrow Resources Development, Inc. (OTC BB:ARWD.OB - News) announces
that Arrow Pacific Resources Group Limited (BVI company),
Arrow Resources Development, Inc.'s partners have opened
700 ha of its
initial allocated 40,000 ha project to develop large scale
corn and
eucalyptus tree farming/plantation operations. This initial
corn harvest
entitles Arrow Resources to 10% of all gross revenue generated
from these
plantation and farming operations of Arrow Pacific Resources
Group Limited
in Indonesia. Arrow Resources, as a result of this commencement
of
operations, has intensified its effort to complete an equity
financing of
up to $35 million to further operations in Indonesia. More
information on
Arrow Resources Development, Inc., along with the company's
public filings
and press releases, can be viewed on their website at www.arrowrd.com. About Arrow Resources Development, Inc. ("Arrow") Arrow Resources Development, Inc. develops and coordinates corporate operations, finance, sales and marketing activities along with the administration of the corporate citizenship programs for natural resource development companies in the Asian market. Its initial relationship with Arrow Pacific Resources Group Limited (BVI company) is for the development of large scale plantation/farming and mining operations in Indonesia. Arrow has signed a similar agreement with Gerakan Masyarakat Pelestari Lingkungan Hidup (GMPLH), and GMPLH's joint venture partner, PT Tiga Duan (Indonesian company owned by Arrow Pacific) for the large scale plantation/farming and ethanol plants in Indonesia. Arrow's agreements entitle the Company to 10% of all gross revenue generated by all their partners' plantation/farming including any and all sales of natural resources and derivative products (e.g. paper, pulp, chips, etc.). Contact: Contact
Investor & Public Relations
212-262-2300
Email Contact
http://www.arrowrd.com
Source: Arrow Resources
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