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Golden Arrow Resources set for $2.5M raise

The financing will see the Vancouver-based company issue up to 8.5 million units at $0.30 apiece

Canadian dollars
Each unit will consist of one share and one transferrable share purchase warrant

Golden Arrow Resources Corporation (CVE:GRG) (OTCQB:GARWF) is set to bring in $2.55 million gross from a private placing.

The financing will see the firm issue up to 8.5 million units at $0.30 each, the Vancouver-based firm said in a brief statement.

READ: Golden Arrow announces 2018 results for Puna Operations, provides 2019 guidance

Each unit will consist of one share and one transferrable share purchase warrant. Each warrant will entitle the holder to buy a further company share at $0.40 for two years from issue.

The company owns 25% of Puna Operations, a joint venture operated by SSR Mining, which has over eight years of forecast production ahead from the Pirquitas-Chinchillas silver mining project.

The company is also 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.

Contact Giles at [email protected]

Quick facts: Golden Arrow Resources Corp

Price: 0.135 CAD

TSX-V:GRG
Market: TSX-V
Market Cap: $16.13 m
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