Golden Arrow Resources Corporation (CVE:GRG) (OTCQB:GARWF) has increased its previously announced placing to up to $3.6 million due to strong demand.
On February 12, the Vancouver-based resource group said it was set to bring in $2.55 million gross from the financing, in which it would issue up to 8.5 million units at $0.30 each.
That offering has now been increased to up to $3.6 million, it said in a brief statement.
All other terms remain the same.
Each unit consists of one share and one transferable 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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