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.
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.
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