Golden Arrow Resources Corp (TSX-V:GRG, OTCQB:GARWF) said it has increased its previously announced non-brokered private placement offering to up to $1.2 million in aggregate gross proceeds.
The company said the proceeds of the offering will be used for early-stage exploration work in Argentina and general working capital.
It highlighted that its flagship San Pietro IOCG project in Chile is funded to support a resource delineation program through a recently announced option agreement.
The terms of the financing are unchanged and it remains subject to regulatory approval.
Shares of Golden Arrow traded higher following the announcement, up 18.2% at C$0.07 before Friday’s opening bell.
Golden Arrow Resources is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exception deposits.