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Golden Arrow Announces Completion of Private Placement at $1.50 per Share and Issuance of Shares for Services
(via Thenewswire.ca) Vancouver, BC / TheNewswire / July 9,...
About this update from Golden Arrow Resources Corp.
[{"type":"text","content":"Golden Arrow Announces Completion of Private Placement at $1.50 per Share and Issuance of Shares for Services(via Thenewswire.ca)\n \n \nVancouver, BC / TheNewswire / July 9, 2015 / Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), \"Golden Arrow\" or the \"Company\") is pleased to announce the completion of a private placement and shares for services transactions. \n\n \n \nGolden Arrow received regulatory approval from the TSX Venture Exchange (\"Exchange\") for the Company's non-brokered private placement originally announced June 26, 2015. The Company issued 442,056 common shares of the Company (\"common shares\"), at a price of US$1.214777 (CDN$1.50) per common share for gross proceeds of US$537,000 (CDN$663,084). The common shares to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws expiring November 7, 2015. \n\n \n \nThe Company received approval from the Exchange to issue 504,201 common shares at a deemed price of US$2.38 per common share, as the final of three payments for completion of an aggregate of 15,000 meters of drilling services (\"drilling services\") pursuant to the terms of a shares for services agreement (see News Release dated March 10, 2014). The 504,201 issued shares will be escrowed pursuant to the terms of a voluntary escrow agreement, and will be released in due course with the completion of the drilling services. The 504,201 common shares will be subject to a four month hold period under applicable Canadian securities laws ending November 4, 2015.\n\n \n \nThe Company also received Exchange approval to issue 98,783 common shares, at a deemed price of US$1.214777 per common share, as payment for completion of an aggregate of US$120,000 of drilling and heavy equipment services pursuant to the terms of a shares for services agreement (see News Release dated January 23, 2015). The 98,783 common shares will also be subject to a four month hold period under applicable Canadian securities laws ending November 4, 2015.\n\n \n \nThe proceeds of the aforementioned financings will be used to advance exploration for the Company's flagship Chinchillas Silver Project and for general working capital.\n\n \n \nAbout Golden Arrow:\n\n\n \nGolden Arrow is a Vancouver-based explorer focused on identifying, acquiring and advancing ...