Dec 19, 2014 (ACCESSWIRE via COMTEX) -- Vancouver, BC / ACCESSWIRE / December 19, 2014 / Golden Arrow Resources Corporation (GRG)(gac.f (wkn:A0B6XQ), "Golden Arrow" or the "Company") announces that due to high investor demand, the Company has increased the private placement amount announced on December 15, 2014 from $1.0 million to $1.5 million.
"The overwhelming interest in our financing is clearly recognition of the value and quality of our Chinchillas project," stated Joseph Grosso, President CEO. "The funds will be used for working capital and to continue our current expansion of the project."
The financing will be by way of non-brokered private placement (the "Offering") of up to 7,500,000 units ("Units") at a price of $0.20 per Unit, subject to regulatory approval. Each unit will consist of one common share and one warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at a price of $0.25 for two years. Golden Arrow can accelerate the warrant exercise if Golden Arrow's 15-day volume weighted average stock price trades $0.35 or higher. Directors, officers and employees of the Company may participate in a portion of the offering.
The proceeds of this financing will be used to advance exploration for the Company's flagship Chinchillas Silver Project and for general working capital. This financing is subject to regulatory approval and the placement securities will be issued subject to a four-month hold period.
The Company may pay finder's fees on a portion of the Offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
About Golden Arrow:
Golden Arrow is a Vancouver-based explorer focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The main focus is on advancing the flagship Chinchillas Silver Project located in Jujuy, Argentina. Golden Arrow is a member of Grosso Group, a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Mr. Joseph Grosso, Executive Chairman, President and CEO
For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@goldenarrowresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
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SOURCE: Golden Arrow Resources Corporation
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