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