Business
Golden Arrow Closes 2nd Tranche and Increases Non-Brokered Private Placement
Golden Arrow Closes 2nd Tranche and Increases Non-Brokered Private Placement Canad...
About this update from Golden Arrow Resources Corp.
[{"type":"text","content":"\n\n\n\nGolden Arrow Closes 2nd Tranche and Increases Non-Brokered Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 5, 2019\n\n\n\nTSX Venture Exchange (TSX-V):  GRGFrankfurt Stock Exchange (FSE):  G6AOTCQB Venture Market (OTCQB): GARWF\n VANCOUVER, March 5, 2019 /CNW/ - Golden Arrow Resources Corporation (TSX-V: GRG, FSE: G6A, OTCQB: GARWF), (\"Golden Arrow\" or the \"Company\") is pleased to announce it has closed the second tranche of a non-brokered private placement (the \"Private Placement\") through the issuance of 1,290,367 units (\"Units\") at a subscription price of $0.30 per Unit for aggregate gross proceeds to the Company of $387,110. In addition, due to continued strong demand, the Company has increased the Unit offering to up to C$4.1 million in aggregate gross proceeds. All other terms of the financing will remain the same.\n\n \n \n\n \nEach Unit will consist of one common share and one transferrable common share purchase warrant (\"Warrant\"). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.40 per share for two years from the date of issue. \nFinder's fees of $6,450 are payable in cash on a portion of the private placement to parties at arm's length to the Company.  In addition, 17,502 non-transferable finder's warrants are being issued (the \"Finder's Warrants\"). Each Finder's Warrant entitles a finder to purchase one common share at a price of $0.40 per share for two years from the date of issue, expiring on July 5, 2019.  \nThe proceeds of the financing will be used for general working capital.\nAn insider of the Company participated in the second tranche of the Private Placement for $15,000 in Units. Such participation represents a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither th...