Golden Arrow Resources (GRG-V) July 13, '16 is pleased to announce a fully subscribed non-brokered private placement of 8,320,000 units at a price of $0.75 per unit for gross proceeds of $6,240,000.
Each unit consists of one common share of the Company at $0.75 per share and one-half share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional share in the capital of the Company at a price of CAD$1.00 per share for 18 months from the date of issue. The warrants exercise period may be accelerated if the volume weighted average price for the shares is $1.40 or greater for 10 consecutive trading days, following expiration of the 4 month hold period.
A finder's fee will be payable on the private placement. This financing is subject to approval from the TSX Venture Exchange. The proceeds of this private placement will be used for general working capital.
About Golden Arrow:
Golden Arrow is a Vancouver-based explorer focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The main focus is on advancing the flagship Chinchillas Silver Project located in Jujuy, Argentina. Golden Arrow is a member of Grosso Group, a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993.
ON BEHALF OF THE BOARD
Mr. Joseph Grosso, Executive Chairman, President and CEO
Golden Arrow Resources Corporation
Corporate Communications
1-604-687-1828
Toll-Free: 1-800-901-0058
info@goldenarrowresources.com
www.goldenarrowresources.com |
