Golden Arrow Announces Non-Brokered Private Placement
Golden Arrow Announces Non-Brokered
Private Placement
TSX Venture Exchange (TSX-V):
GRG
Frankfurt Stock Exchange (FSE):
G6A
OTCQB Venture Market (OTCQB):
GARWF
/NOT FOR DISTRIBUTION TO
THE UNITED STATES
/
VANCOUVER, BC
,
Nov. 12, 2024
/CNW/ -
Golden Arrow Resources Corporation
(TSXV: GRG)
(FSE: G6A) (OTCQB: GARWF),
("Golden Arrow"
or the
"Company")
is pleased to announce a
non-brokered private placement financing of up to 10,000,000 units at a price of
$0.05
per unit (the
"
Units
") for gross proceeds of
$500,000
(the "
Offering
").
Each Unit will consist of one common share and one transferrable common share purchase warrant
(a "
Warrant
"). Each Warrant will entitle the holder thereof to purchase one additional common share
in the capital of the Company at
$0.08
per share for three (3) years from the date of issue.
The Company's flagship San Pietro IOCG Project in
Chile
is funded to support a resource
delineation program through the recently announced option agreement (see News Release dated
January 12, 2024
). The proceeds of this financing will provide funds for general working capital.
Please contact
Shawn Perger
at 1-604-687-1828 or Toll-Free: 1-800-901-0058
Email:
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 to arm's length finders on a portion of the financing. The proceeds of the
financing will be used for general working capital.
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "
1933 Act
") or any state securities laws, and accordingly,
may not be offered or sold within
the United States
except in compliance with the registration
requirements of the 1933 Act and applicable state securities requirements or pursuant to exemptions
therefrom. This press release does not constitute an offer to sell or a solicitation to buy any
securities in any jurisdiction.
About
Golden Arrow
:
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 iron oxide-copper-
gold-cobalt project in
Chile
, and a portfolio that includes nearly 125,000 hectares of prospective
properties in
Argentina
.
The 100%-held San Pietro Project covers nearly 18,500 hectares, approximately 100 kilometres
north of Copiapo in the centre of a potential new copper-cobalt region within an active mining district
that is home to all the major iron oxide-copper-gold ("
IOCG
") deposits in
Chile
. San Pietro hosts
multiple targets with strong IOCG+cobalt mineralization, and the Company is working to delineate its
first mineral resource for the project in 2024.
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"
________________________________
Mr.
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 contains certain statements and information that may be considered "forward-
looking statements" and "forward-looking information" within the meaning of applicable securities
laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-
looking information can be identified by the use of forward-looking terminology such as "plans",
"targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned",
"estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations
of such words and phrases or statements that certain actions, events or results "may", "could",
"would", "might", "will" or "will be taken", "occur" or "be achieved" and other similar expressions. In
addition, statements in this news release that are not historical facts are forward looking
statements, including, without limitation, statements or information concerning the use of proceeds
of the Offering; the closing of the Offering; the Company's expectations about when the Offering
will close, if the Offering closes at all; the Company's expectation that it will meet the requirements
of the Exchange necessary to have the Common Shares listed; the size and other terms of the
Offering; the participation by insiders in the Offering; finder's fees; the Company's business
strategy, plans and outlooks; the future financial or operating performance of the Company; future
exploration and operating plans; and the expectation that all of the closing conditions will be met.
These statements and other forward-looking information are based on assumptions and estimates
that the Company believes are appropriate and reasonable in the circumstances, including, without
limitation, assumptions about the proposed completion of the Offering; future prices of lithium; the
price of other commodities; currency exchange rates and interest rates; favourable operating
conditions; political stability; timely receipt of governmental approvals, licences and permits (and
renewals thereof); access to necessary financing; stability of labour markets and market conditions
in general; availability of equipment; the accuracy of mineral resource estimates and preliminary
economic assessments; estimates of costs and expenditures to complete the Company's programs
and goals; and there being no significant disruptions affecting the development and operation of
the project.
There can be no assurance that such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from the Company's expectations include: the
risk that the Offering will not complete on the timeline anticipated or at all; the risk that all
necessary regulatory approvals will not be obtained, including the approval of the Exchange; the
risk that the Company will not be able to utilize the proceeds of the Offering as anticipated; risks
associated with the business of the Company; business and economic conditions in the mining
industry generally; the supply and demand for labour and other project inputs; changes in
commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate
geological and engineering assumptions; risks relating to unanticipated operational difficulties;
failure of equipment or processes to operate in accordance with specifications or expectations;
cost escalations; unavailability of materials and equipment; government action or delays in the
receipt of government approvals; industrial disturbances or other job action; unanticipated events
related to health, safety and environmental matters; risks relating to adverse weather conditions;
political risk and social unrest; changes in general economic conditions or conditions in the
financial markets; ongoing war in
Ukraine
, rising inflation and interest rates and the impact they
will have on the Company's operations, supply chains, ability to access mining projects or procure
equipment, supplies, contractors and other personnel on a timely basis or at all and economic
activity in general; and other risk factors as detailed from time to time in the Company's continuous
disclosure documents filed with Canadian securities regulators.
The Company does not undertake to update any forward-looking information, except in accordance
with applicable securities laws.
SOURCE
Golden Arrow Resources Corporation
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For further information:
For further information, please contact: Corporate Communications, Tel:
1-604-687-1828, Toll-Free: 1-800-901-0058, Email: [email protected]
CO: Golden Arrow Resources Corporation
CNW 07:00e 12-NOV-24