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Golden Arrow Resources hikes offering due to strong demand

Each unit consists of one share and one transferable share purchase warrant

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The placing has now been increased to up to $3.6 million, the company said

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.

READ: Golden Arrow Resources set for $2.5M raise

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.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

Quick facts: Golden Arrow Resources Corp

Price: 0.14 CAD

TSX-V:GRG
Market: TSX-V
Market Cap: $16.73 m
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