-NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO OR THROUGH US NEWSWIRE SERVICES-
Vancouver, BC / TNW-Accesswire / June 4, 2015 / Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") is pleased to announce it has completed the $1,500,000 financing with Silver Standard Resources Inc. ("Silver Standard") (NASDAQ: SSRI) (TSX: SSO) previously announced on May 27, 2015.
Golden Arrow has issued to Silver Standard $1,500,000 of common shares of the Company (the "Shares") at a price of $0.35 per Share, representing approximately 8% of the issued and outstanding shares of Golden Arrow (the "Transaction"). In consideration for the issuance of the Shares to Silver Standard, the Company has received 214,592 common shares of Pretium Resources Inc. ("Pretium") (TSX: PVG) (NYSE:PVG) (the "PVG Shares") at a price of $6.99 per PVG Share. The PVG Shares are free-trading and unencumbered. Pretium operates at arm's length to the Company.
Golden Arrow will use the proceeds from the sale of PVG Shares received as consideration from the Transaction to fund activities for the Company's flagship Chinchillas Silver Project and for general corporate purposes.
The Shares issued in connection with the Transaction are subject to a four-month hold period under applicable Canadian securities laws expiring October 5, 2015. Silver Standard is not permitted to trade the Shares for a period of four months plus one day from the closing of the Transaction, except as permitted by applicable Canadian securities laws. The Shares described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of such Act.
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 main focus is on advancing the flagship Chinchillas Silver Project located in Jujuy, Argentina. 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 and CEO
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Neither the 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.
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release include statements regarding the Transaction, the Common Shares, the PVG Shares, the Chinchillas Silver Project and the intended use of proceeds of the Transaction, which involve known and unknown risks and uncertainties and which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.