Golden Arrow Resources Corporation (TSXV: GRG | FSE: G6A | OTCQB: GARWF) has announced a non-brokered private placement financing of up to 12M units at a price of C$0.05 per unit for gross proceeds of C$600K.
Each unit will consist of one share and one transferrable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional share at C$0.10 each for three years from the date of issue.
“We anticipate strong news flow for the company this year, with our fully funded detailed exploration and resource delineation drill programme starting this quarter at our advanced San Pietro project,” stated Joseph Grosso, Chairman, CEO and President of Golden Arrow. “This will be further bolstered by the prospect of news from our joint-venture partners on our Mogote and Caballos projects.”
The company’s flagship San Pietro iron oxide-copper-gold-cobalt project in Chile is funded to support a resource delineation programme through the recently announced option agreement. The proceeds will provide funds for other early-stage exploration work in Argentina as well as the necessary funds for general working capital.
This financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. Directors, officers, and employees of the company may participate in a portion of the financing. A commission may be paid on a portion of the financing. The proceeds of the financing will be used for general working capital and exploration on its properties in Argentina.
Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits.
Golden Arrow is actively exploring its flagship property, the advanced San Pietro project in Chile, and a portfolio that includes nearly 125,000ha of prospective properties in Argentina.
For further information, please visit: www.goldenarrowresources.com
To read more articles like this, please visit: www.theassay.com