viewGolden Arrow Resources Corp

Golden Arrow announces closing of private placement’s second tranche

The Argentina-focused exploration company said in a statement that proceeds will be used for general working capital

Map of Argentina
The company is exploring on its 495,000 acres in Argentina

Golden Arrow Resources Corp (OTCMKTS:GARWF) said Tuesday that it has closed the second tranche of a non-brokered private placement.

The Argentina-focused exploration company said in a statement that proceeds will be used for general working capital.

Golden Arrow issued 1,290,367 units at a subscription price of C$0.30 per unit for gross proceeds of C$387,110.

READ: Golden Arrow announces 2018 results for Puna Operations, provides 2019 guidance

In addition, because of strong demand, the Vancouver company increased the unit offering to as much as C$4.1 million in gross proceeds. All other terms of the financing remain the same.

Finder's fees of C$6,450 are payable in cash on a portion of the private placement. In addition, 17,502 non-transferable finder's warrants are being issued, with each finder's warrant entitling a finder to purchase one common share at a price of C$0.40 per share for two years from the date of issue, expiring July 5.

Shares of Golden Arrow climbed C$0.01 to C$0.32 in Tuesday’s Canadian trading. They fetched US$0.23 on the OTC Markets.

The company owns a 25% share of Puna Operations Inc, a joint venture operated by SSR Mining, with more than eight years of forecast production and upside potential at the Pirquitas-Chinchillas silver mining project Argentina. 

Golden Arrow is actively exploring on its more than 200,000 hectares (495,000 acres) in Argentina.  

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

Quick facts: Golden Arrow Resources Corp

Price: 0.17 CAD

Market: TSX-V
Market Cap: $20.26 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Golden Arrow Resources Corp named herein, including the promotion by the Company of Golden Arrow Resources Corp in any Content on the Site, the...


Golden Arrow provide exploration update including drilling at Tierra Dorada...

Golden Arrow (CVE: GRG-OTCQB: GARWF) Vice President of Exploration Brian McEwen joined Steve Darling from Proactive to provide investors with an update on their exploration work at 2 of their projects. McEwen telling Proactive they have begun work on their Rosales Project in Chile and they...

on 16/9/20

2 min read