/C O R R E C T I O N from Source -- Golden Arrow Resources Corporation/ In the news release, Golden Arrow Closes Oversubscribed Final Tranche of the Private Placement, issued 22-Mar-2019 by Golden Arrow Resources Corporation over CNW, we are advised by the company an incorrect expiry date was used f
/C O R R E C T I O N from Source -- Golden Arrow Resources
Corporation/
In the news release, Golden Arrow Closes Oversubscribed Final Tranche of the Private Placement, issued
22-Mar-2019
by Golden
Arrow Resources Corporation over CNW, we are advised by the company an incorrect expiry date was used for the Finder Warrants
in the third paragraph, third sentence. It should read "Each Finder's Warrant entitles a finder to purchase one common share at a price
of
$0.40
per share for two years from the date of issue, expiring on
March 21, 2021
." rather than "July 21, 2019" as originally issued
inadvertently. The complete, corrected release follows:
Golden Arrow Closes Oversubscribed Final Tranche of the Private Placement
Venture Exchange (TSX-V):
GRG
Frankfurt Stock Exchange (FSE):
G6A
OTCQB Venture Market (OTCQB):
GARWF
VANCOUVER
,
March 22, 2019
/CNW/ -
Golden Arrow Resources Corporation (TSX-V: GRG, FSE: G6A, OTCQB:
GARWF),
("
Golden Arrow
" or the "
Company
") is pleased to announce it has closed the final tranche of a non-brokered private
placement (the "
Private Placement
") through the issuance of 3,462,034 units ("
Units
") at a subscription price of
$0.30
per Unit for
aggregate gross proceeds to the Company of
$1,038,610
. In total, the Company issued 15,804,012 Units for aggregate gross
proceeds of
$4,741,203
in this Private Placement.
Each Unit will consist of one common share and one transferrable common share purchase warrant ("
Warrant
"). Each Warrant will
entitle the holder thereof to purchase one additional common share in the capital of the Company at
$0.40
per share for two years
from the date of issue, expiring on
March 21, 2021
.
Finder's fees of
$6,650.70
are payable in cash on a portion of the private placement to parties at arm's length to the Company. In
addition, 22,169 non-transferable finder's warrants are being issued (the "
Finder's
Warrants
"). Each Finder's Warrant entitles a finder
to purchase one common share at a price of
$0.40
per share for two years from the date of issue, expiring on
March 21
, 2021. In
total for this Private Placement, Finder's fees of
$60,090.73
were paid and 196,302 Finder Warrants were issued.
The proceeds of the financing will be used for general working capital.
An insider of the Company participated in the final tranche of the Private Placement for
$10,500
in Units. Such participation represents
a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI
61-101"), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as
neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25% of the Company's market
capitalization.
This financing is subject to regulatory approval and all securities to be issued pursuant to this tranche of the financing are subject to a
four-month hold period expiring on
July 21, 2019
.
About
Golden Arrow
:
Golden Arrow Resources Corporation is an exploration company earning production income. The Company has a successful track
record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits.
Golden Arrow
owns a 25% share of Puna Operations Inc., a joint venture operated by SSR Mining, with more than 8 years of forecast production
and upside potential at the Pirquitas -Chinchillas silver mining project. Golden Arrow is exploring a new portfolio of advanced projects in
Chile
, as well as other targets within its portfolio of more than 200,000 hectares of properties in Argentina. The Company is a member
of the Grosso Group, a resource management group that has pioneered exploration in
Argentina
since 1993.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Joseph Grosso
,
Executive Chairman, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such
statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of
factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-
looking statements.
The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended,
or state securities laws and may not be offered or sold within
the United States
or to, or for the account or benefit of, U.S. persons
absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not
constitute an offer for sale of securities in
the United States
.
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SOURCE
Golden Arrow Resources Corporation
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%SEDAR: 00042897E
For further information:
Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email:
CO: Golden Arrow Resources Corporation
CNW 14:23e 26-MAR-19