Golden Arrow Resources Corp (CVE:GRG) is set to raise over C$2.6mln to be used for general working capital.
The group has arranged a non-brokered private placing for up to 7.5 million units at C$0.35 each for gross proceeds of C$2,625,000.
Each unit consists of one share and one transferable share purchase warrant.
Each warrant allows the holder to buy one additional share at C$0.55 for two years from the date of issue.
Golden Arrow Resources is an explorer, which is earning production income. Golden Arrow is actively exploring on its more than 200,000 hectares of properties in Argentina.