/NOT FOR DISTRIBUTION TO THE UNITED STATES/
TSX Venture Exchange
(TSX-V): GRG
Frankfurt Stock Exchange
(FSE): G6A
OTCQB Venture Market
(OTCQB): GARWF
VANCOUVER, BC, Nov. 22,
2024 /CNW/ - Golden Arrow Resources
Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF),
("Golden Arrow" or the "Company") is pleased to announce
it has closed the 1st tranche of the non-brokered
private placement offering (the "Offering"), as announced on
November 12, 2024, through the
issuance of 8,850,000 units at a subscription price of $0.05 per unit (a "Unit" or
"Units") for aggregate gross proceeds to the Company of
$442,500.
Each Unit consists 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 expiring on November 22,
2027.
Finder's fees of $1,400 are
payable in cash on a portion of the private placement to parties at
arm's length to the Company. In addition, 28,000 non-transferable
finder's warrants are issuable (the
"Finder's Warrants"). Each Finder's Warrant
entitling a finder to purchase one common share at a price of
$0.05 per share for three (3) years
from the date of issue, expiring on November
22, 2027.
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 Offering will provide funds for
general working capital.
Certain insiders of the Company participated in the Private
Placement for $10,000 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 the fair
market value of the subject matter of the transaction, nor the
consideration paid, exceed 25% of the Company's market
capitalization.
This Offering is subject to regulatory approval and all
securities to be issued pursuant to the Offering are subject to a
four-month hold period under applicable Canadian securities laws
expiring on March 21, 2025. The
proceeds of the Offering will be used for general working
capital.
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"
_____________________________________
Joseph Grosso, President, CEO and
Director
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.
SOURCE Golden Arrow Resources Corporation
