Golden Arrow Resources Corp (TSX-V:GRG, OTCQB:GARWF) said it has closed a previously announced non-brokered private placement financing, raising aggregate gross proceeds of $819,655.
The company issued 11,709,357 units at a subscription price of $0.07 each, with each unit consisting of one common share and one transferrable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share for $0.15 for three years from the date of issue.
The proceeds of the financing will be used for general working capital and exploration on all its properties.