In the news release, Golden Arrow Closes Oversubscribed Final
Tranche of the Private Placement, issued 22-Mar-2019 by Golden Arrow Resources Corporation
over CNW, we are advised by the company an incorrect expiry date
was used for the Finder Warrants in the third paragraph, third
sentence. It should read "Each Finder's Warrant entitles a finder
to purchase one common share at a price of $0.40 per share for two years from the date of
issue, expiring on March 21, 2021."
rather than "July 21, 2019" as originally issued inadvertently. The
complete, corrected release follows:
Golden Arrow Closes Oversubscribed Final Tranche of the Private
Placement
Venture Exchange (TSX-V): GRG
Frankfurt Stock
Exchange (FSE): G6A
OTCQB Venture Market (OTCQB):
GARWF
VANCOUVER, March 22, 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 final tranche of a non-brokered private placement
(the "Private Placement") through the issuance of 3,462,034
units ("Units") at a subscription price of $0.30 per Unit for aggregate gross proceeds to
the Company of $1,038,610. In total,
the Company issued 15,804,012 Units for aggregate gross proceeds of
$4,741,203 in 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 $0.40 per share for two years from the date of
issue, expiring on March 21,
2021.
Finder's fees of $6,650.70 are
payable in cash on a portion of the private placement to parties at
arm's length to the Company. In addition, 22,169
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 $0.40 per share for two years from the date of
issue, expiring on March 21,
2021. In total for this Private Placement, Finder's fees of
$60,090.73 were paid and 196,302
Finder Warrants were issued.
The proceeds of the financing will be used for general working
capital.
An insider of the Company participated in the final tranche of
the Private Placement for $10,500 in
Units. Such participation represents a related-party transaction
under Multilateral Instrument 61-101 - Protection of Minority
Security Holders in Special Transactions ("MI 61-101"), but the
transaction is exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101 as neither the fair
market value of the subject matter of the transaction, nor the
consideration paid, exceed 25% of the Company's market
capitalization.
This financing is subject to regulatory approval and all
securities to be issued pursuant to this tranche of the financing
are subject to a four-month hold period expiring on July 21, 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 Pirquitas -Chinchillas silver mining project. Golden Arrow
is 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