Golden Arrow Resources Corporation (GRG - TSX.V) ("Golden Arrow" or the "Company") today announced that the TSX Venture Exchange (the "Exchange") has accepted a Notice of Intention to Make a Normal Course Issuer Bid (the "Bid") which was filed by Golden Arrow with the Exchange.
Pursuant to the terms of the Bid, Golden Arrow will purchase its own common shares for cancellation through the facilities of the Exchange at the prevailing market price. The number of common shares purchased by Golden Arrow will in no event be in excess of 5% of the issued and outstanding common shares at the date the bid commences, such amount not to exceed 1,000,000 common shares of the 41,823,655 currently issued and outstanding common shares. Golden Arrow will effect purchases at varying times commencing on or after November 25, 2013 and continuing until no later than November 25, 2014, or on such earlier date as Golden Arrow may complete its purchases pursuant to the Bid or as it may otherwise determine.
Golden Arrow is engaging in the Bid because it believes that the market price of its common shares does not properly reflect the underlying value of Golden Arrow. The objective of the Bid is to provide market stability for the benefit of the Company's shareholders. Market purchases pursuant to the Bid will be conducted through Steve Burns of Global Maxfin Capital Inc.
Shareholders may obtain a copy of the Notice of Intention to Make a Normal Course Issuer Bid (Form 5G), without charge, by contacting Golden Arrow.
About Golden Arrow:
Golden Arrow is a Vancouver-based explorer focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The core focus is on advancing the flagship Chinchillas Silver Project located in Jujuy, Argentina. Golden Arrow has a strong treasury which will allow the company to advance its Chinchillas Silver Project. Golden Arrow will continue to execute its strategy to leverage the Company's exploration exposure by attracting partners to fund work on its other high quality mineral projects. Golden Arrow is a member of Grosso Group, a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993.
ON BEHALF OF THE BOARD
Mr. Joseph Grosso
Executive Chairman, President, CEO and Director
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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 may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.