Business
Golden Arrow Resources Completes the Sale of its Interest in Puna Operations
Golden Arrow Resources Completes the Sale of its Interest in Puna Operations Canad...
About this update from Golden Arrow Resources Corp.
[{"type":"text","content":"\n\n\n\nGolden Arrow Resources Completes the Sale of its Interest in Puna Operations\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Sept. 19, 2019\n\n\n\nAll dollar amounts in Canadian Dollars unless otherwise noted\nTSX Venture Exchange (TSX-V): GRG Frankfurt Stock Exchange (FSE): G6AOTCQB Venture Market (OTCQB): GARWF\n VANCOUVER, Sept. 19, 2019 /CNW/ - Golden Arrow Resources Corporation (TSX-V: GRG, FSE: G6A, OTCQB: GARWF) (\"Golden Arrow\" or the \"Company\"), is pleased to announce that the Company has successfully completed the transaction announced on July 22, 2019 and has sold the Company's 25% interest in Puna Operations Inc. (\"Puna Operations\") to SSR Mining Inc. (TSX: SSRM); (NASDAQ: SSRM) (\"SSRM\") (the \"Transaction\").\n\n \n \n\n \nThe full details of the Transaction were set out in our news release dated July 22, 2019. As consideration for the sale of its 25% interest in Puna Operations, Golden Arrow received:\nC$3.0 million in cash consideration 1,245,580 common shares of SSRM representing a value of approximately C$25.9 million and calculated using a price per share based on the 20-day volume weighted average trading price of SSRM's common shares on the Toronto Stock Exchange ending on September 17, 2019Approximately C$15.1 million in cash, which amount was used to repay in full the outstanding principal and accrued interest owed by Golden Arrow under the credit agreement entered into in July 2018 with SSRMThe return for cancellation, for no consideration, of 4,285,714 Golden Arrow common shares owned by SSRMAbout Golden Arrow\nGolden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. The Company is well-leveraged to the price of gold, having monetized its Chinchillas silver discovery into a significant holding in precious metals producer SSRM.\nGolden Arrow is actively exploring a portfolio that includes advanced projects in Chile, a distr...