Golden Arrow Resources Corporation (TSXV: GRG | FSE: G6A | OTCQB: GARWF), has announced a non-brokered private placement financing of up to 21.5M units at a price of C$0.07 each for proceeds of C$1.505M. Each unit will consist of one share and one transferrable share purchase warrant. Each warrant will entitle the holder to purchase one additional share at C$0.15 each for three years from the date of issue.
This is subject to regulatory approval and all securities are subject to a four-month hold period under applicable Canadian securities laws. Directors, officers, and employees may participate in a portion of the financing. A commission may be paid on a portion of the financing. The proceeds will be used for general working capital and exploration on all its properties.
Golden Arrow is a mining exploration company with a positive track record of creating value in advancing precious and base metal discoveries into successful deposits who is actively exploring their flagship property, the San Pietro iron oxide-copper-gold-cobalt project in Chile. They also have a portfolio that includes nearly 125,000ha of prospective properties in Argentina.
The 100%-held San Pietro project covers nearly 18,500ha, approximately 100km 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 deposits in Chile. San Pietro hosts multiple targets with strong mineralization in all these minerals, including cobalt, with aims to delineate its first mineral resource in 2024.
The company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
For further information, please visit: www.goldenarrowresources.com
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