TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB
Venture Market
(OTCQB): GARWF
/NOT FOR DISTRIBUTION TO THE UNITED STATES/
VANCOUVER, BC, Nov. 12,
2024 /CNW/ - Golden Arrow Resources
Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), ("Golden
Arrow" or the "Company") is pleased to announce a
non-brokered private placement financing of up to 10,000,000 units
at a price of $0.05 per unit (the
"Units") for gross proceeds of $500,000 (the "Offering").
Each Unit will consist of one common share and one transferrable
common share purchase warrant (a "Warrant"). Each Warrant
will entitle the holder thereof to purchase one additional common
share in the capital of the Company at $0.08 per share for three (3) years from the date
of issue.
The Company's flagship San Pietro IOCG Project in Chile is funded to support a resource
delineation program through the recently announced option agreement
(see News Release dated January 12,
2024). The proceeds of this financing will provide funds for
general working capital.
Please contact Shawn
Perger at 1-604-687-1828 or Toll-Free:
1-800-901-0058
Email:
info@goldenarrowresources.com
This financing is subject to regulatory approval and all
securities to be issued pursuant to the financing are subject to a
four-month hold period under applicable Canadian securities laws.
Directors, officers and employees of the Company may participate in
a portion of the financing. A commission may be paid to arm's
length finders on a portion of the financing. The proceeds of the
financing will be used for general working capital.
The securities described herein have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended (the "1933 Act") or any state securities laws, and
accordingly, may not be offered or sold within the United States except in compliance with
the registration requirements of the 1933 Act and applicable state
securities requirements or pursuant to exemptions therefrom. This
press release does not constitute an offer to sell or a
solicitation to buy any securities in any jurisdiction.
About Golden Arrow:
Golden 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.
Golden Arrow is actively
exploring its flagship property, the advanced San Pietro iron
oxide-copper-gold-cobalt project in Chile, and a portfolio that includes nearly
125,000 hectares of prospective properties in Argentina.
The 100%-held San Pietro Project covers nearly 18,500 hectares,
approximately 100 kilometres north of Copiapo in the centre of a
potential new copper-cobalt region within an active mining district
that is home to all the major iron oxide-copper-gold
("IOCG") deposits in Chile.
San Pietro hosts multiple targets with strong IOCG+cobalt
mineralization, and the Company is working to delineate its first
mineral resource for the project in 2024.
The Company is a member of the Grosso Group, a resource
management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Joseph Grosso"
________________________________
Mr. Joseph Grosso,
Executive Chairman, President and CEO
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.
This news release contains certain statements and information
that may be considered "forward-looking statements" and
"forward-looking information" within the meaning of applicable
securities laws. In some cases, but not necessarily in all cases,
forward-looking statements and forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "targets", "expects" or "does not expect", "is expected",
"an opportunity exists", "is positioned", "estimates", "intends",
"assumes", "anticipates" or "does not anticipate" or "believes", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might", "will"
or "will be taken", "occur" or "be achieved" and other similar
expressions. In addition, statements in this news release that are
not historical facts are forward looking statements, including,
without limitation, statements or information concerning the use of
proceeds of the Offering; the closing of the Offering; the
Company's expectations about when the Offering will close, if the
Offering closes at all; the Company's expectation that it will meet
the requirements of the Exchange necessary to have the Common
Shares listed; the size and other terms of the Offering; the
participation by insiders in the Offering; finder's fees; the
Company's business strategy, plans and outlooks; the future
financial or operating performance of the Company; future
exploration and operating plans; and the expectation that all of
the closing conditions will be met.
These statements and other forward-looking information are
based on assumptions and estimates that the Company believes are
appropriate and reasonable in the circumstances, including, without
limitation, assumptions about the proposed completion of the
Offering; future prices of lithium; the price of other commodities;
currency exchange rates and interest rates; favourable operating
conditions; political stability; timely receipt of governmental
approvals, licences and permits (and renewals thereof); access to
necessary financing; stability of labour markets and market
conditions in general; availability of equipment; the accuracy of
mineral resource estimates and preliminary economic assessments;
estimates of costs and expenditures to complete the Company's
programs and goals; and there being no significant disruptions
affecting the development and operation of the project.
There can be no assurance that such statements will prove to
be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from
the Company's expectations include: the risk that the Offering will
not complete on the timeline anticipated or at all; the risk that
all necessary regulatory approvals will not be obtained, including
the approval of the Exchange; the risk that the Company will not be
able to utilize the proceeds of the Offering as anticipated; risks
associated with the business of the Company; business and economic
conditions in the mining industry generally; the supply and demand
for labour and other project inputs; changes in commodity prices;
changes in interest and currency exchange rates; risks relating to
inaccurate geological and engineering assumptions; risks relating
to unanticipated operational difficulties; failure of equipment or
processes to operate in accordance with specifications or
expectations; cost escalations; unavailability of materials and
equipment; government action or delays in the receipt of government
approvals; industrial disturbances or other job action;
unanticipated events related to health, safety and environmental
matters; risks relating to adverse weather conditions; political
risk and social unrest; changes in general economic conditions or
conditions in the financial markets; ongoing war in Ukraine, rising inflation and interest rates
and the impact they will have on the Company's operations, supply
chains, ability to access mining projects or procure equipment,
supplies, contractors and other personnel on a timely basis or at
all and economic activity in general; and other risk factors as
detailed from time to time in the Company's continuous disclosure
documents filed with Canadian securities regulators.
The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
SOURCE Golden Arrow Resources Corporation
