Golden Arrow Announces Normal Course Issuer Bid
Golden Arrow Announces Normal Course Issuer
Bid
TSX Venture Exchange (TSX-V):
GRG
Frankfurt Stock Exchange (FSE):
G6A
OTCQB Venture Market (OTCQB):
GARWF
VANCOUVER
,
March 12, 2020
/CNW/ -
Golden Arrow Resources Corporation (TSX-V: GRG, FSE: G6A,
OTCQB: GARWF),
("
Golden Arrow
" or the "
Company
") has received approval from the TSX Venture
Exchange (the "
Exchange
") to commence a normal course issuer bid (the "
Bid
") to purchase up to
10,658,050 of its common shares ("
Shares
"), being equal to 10% of the Public Float (as defined in the
policies of the Exchange) as at
March 6, 2020
. Pursuant to the policies of the Exchange, the Bid will
commence on
March 17, 2020
and will end on the earlier of
March 16, 2021
, or at such time as the Bid has
been completed or the Bid is terminated at the Company's discretion.
The board of directors of the Company are of the opinion that the recent market prices of its Shares do not
reflect the underlying value of its property portfolio and its strong financial position. Accordingly, the purchase
of Shares through the Bid is in the best interests of the Company and its shareholders, as it will increase the
proportionate share interest of remaining shareholders. The Bid will afford an increased degree of liquidity to
the Company's shareholders. The directors also believe that there will be long term benefits to the Company
with fewer Shares issued and outstanding.
All Shares purchased pursuant to the Bid will be made on the open market through the facilities of the
Exchange by PI Financial Corp. on behalf of the Company, and the purchase and payment for the acquired
Shares will be made by the Company in accordance with the requirements of the Exchange.
To the knowledge of the Company, no director, senior officer, or other insider of the Company, or any
associate of such person, or any associate or affiliate of the Company, currently intends to sell any Shares
into the Bid. However, sales by such persons through the facilities of the Exchange or any other available
market or alternative trading system in
Canada
may occur if the personal circumstances of any such person
change or if any such person makes a decision unrelated to the Bid. The benefits to any such person whose
Shares are purchased would be the same as the benefits available to all other holders whose Shares are
purchased.
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.
The Company is well-leveraged to the price of gold, having monetized its Chinchillas silver discovery into a
significant holding in precious metals producer SSR Mining Inc.
Golden Arrow
is actively exploring a portfolio that includes advanced projects in
Chile
, a district-scale frontier
opportunity in
Paraguay
, and more than 185,000 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
"Nikolaos Cacos"
________________________
Mr.
Nikolaos Cacos
,
Director and Vice President, Corporate Development
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. Forward-looking statements are
frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate",
"estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may"
or "will" occur, and include, without limitation, statements regarding the Company's future actions with
respect to the Bid. Such forward-looking statements involve known and unknown risks, uncertainties and
other factors that could cause actual events or results to differ materially from estimated or anticipated
events or results implied or expressed in such forward-looking statements, fluctuations in market conditions
or the Company's working capital position that may affect its purchases of Shares under the Bid. Forward-
looking statements are not guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty thereof. 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.
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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: [email protected]
CO: Golden Arrow Resources Corporation
CNW 09:30e 12-MAR-20