Golden Arrow Announces Acceleration of Expiry Date for Outstanding Warrants
Vancouver, BC / Marketwired / May 10, 2016 / Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") is pleased to confirm that the Company has elected to accelerate the expiry dates of the remaining 3,706,400 warrants (the "Warrants") issued as part of three private placements which closed in December 2014, January 2015 and February 2015. The December and January warrants may be exercised to acquire one common share of Golden Arrow at $0.25, for gross proceeds of $901,600. The February 2015 warrants may be exercised to acquire one common share of Golden Arrow at $0.26, for gross proceeds of $26,000.
Under the terms of the warrants, Golden Arrow is permitted to accelerate the expiry date of the warrants if the volume weighted average trading price of the Company's shares listed on the TSX Venture Exchange is at or above $0.35 for any fifteen preceding trading days (the "Acceleration Event"). Golden Arrow is pleased to confirm that an Acceleration Event occurred as of Friday, May 6, 2016. Accordingly, Golden Arrow has elected to accelerate the expiry date of the warrants to 4:00pm Vancouver time on May 30, 2016.
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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This news release may contain forward-looking statements. 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.
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.