Golden Arrow Closes Oversubscribed Non-Brokered Private Placement for $1.2 Million
Golden Arrow Closes Oversubscribed Non-Brokered Private
Placement for $1.2 Million
TSX Venture Exchange (TSX-V):
GRG
Frankfurt Stock Exchange (FSE):
G6A
OTCQB Venture Market (OTCQB):
GARWF
VANCOUVER
,
June 20, 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 second and final tranche of a non-brokered private placement (the "
Private
Placement
") through the issuance of an additional 1,950,000 units ("
Units
") at a subscription price of
$0.20
per Unit for additional gross
proceeds to the Company of
$390,000
. In total, 6,012,500 Units were issued and aggregate gross proceeds of
$1,202,500
were received by
the Company for 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
$0.30
per share for three years from the date of
issue.
In this tranche, finder's fees of
$8,400
are payable in cash on a portion of the private placement to parties at arm's length to the Company. In
addition, 42,000 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
$0.30
per share for three years from the date of issue, expiring on
June 20
, 2022. After closing of
the second and final tranche, a total of
$38,500
are payable in cash and 192,500 non-transferable finder's warrants will have been issued.
The proceeds of the financing will be used for general working capital.
This financing is subject to regulatory approval and all securities to be issued pursuant to this second and final tranche are subject to a four-
month hold period expiring on
October 20, 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
Chinchillas Silver Mine. Golden Arrow is actively 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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For further information:
Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email:
CO: Golden Arrow Resources Corporation
CNW 20:00e 20-JUN-19