Golden Arrow Applies to Extend Warrants

Rhea-AI Summary

Golden Arrow Resources Corporation (OTCQB: GARWF) announced its application to extend the expiration dates of 15,804,012 outstanding warrants, originally issued during a private placement in 2019. The warrants, set to expire between February 25 and March 21, 2023, will now expire one year later, in 2024. The exercise price remains $0.40. This extension aims to provide additional time for warrant holders to exercise their rights. The amendment is subject to TSX Venture Exchange approval. Golden Arrow is actively exploring the San Pietro Cu-Au-Co project in Chile and holds a significant portfolio in Argentina, benefiting from the price of gold.

Positive

• Extension of warrant expirations provides holders more time to make decisions.
• Company maintains the exercise price of $0.40 per warrant, potentially increasing exercise interest.
• Golden Arrow's strategic exploration in Chile and Argentina positions it well in the precious metals market.

Negative

• None.

TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF

VANCOUVER, BC, Feb. 10, 2023 /PRNewswire/ - Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), ("Golden Arrow" or the "Company") announces that the Company has made an application to the TSX Venture Exchange to extend the term of 15,804,012 outstanding warrants as follows:

• 11,051,611 warrants that are set to expire on February 25, 2023, 1,290,367 warrants that are set to expire on March 5, 2023 and 3,462,034 warrants that are set to expire on March 21, 2023 to be extended to February 25, 2024, March 5, 2024 and March 21, 2024 respectively. These warrants were originally issued as part of the units under a single private placement completed by the Company in 3 tranches on February 25, 2019, March 5, 2019 and March 21, 2019 respectively. None of the warrants have been exercised.

The exercise price of the warrants will remain at $0.40. Each whole warrant, when exercised, will be exchangeable for one common share of the Company.

The amendment is subject to the approval of the TSX Venture Exchange ("TSXV").

New Stock Option Plan and Equity Incentive Plan

On August 12, 2022, the Company adopted a 10% rolling stock option plan (the "Stock Option Plan") and a restricted share unit, performance share unit and deferred share unit plan (the "Equity Incentive Plan"). The number of common shares of the Company reserved for issuance under the Stock Option Plan cannot exceed 10% of the number of common shares of the Company that are outstanding on each applicable grant date, and 11,516,723 common shares of the Company are reserved for issuance under the Equity Incentive Plan.

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. The Company is well leveraged to the price of gold, having monetized its Chinchillas silver discovery into a significant holding in precious metals producer SSR Mining Inc.

Golden Arrow is actively exploring the advanced San Pietro Cu-Au-Co project in Chile, and a portfolio that includes more than 180,000 hectares of prospective properties in Argentina. 

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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/golden-arrow-applies-to-extend-warrants-301743741.html

SOURCE Golden Arrow Resources Corporation

FAQ

What warrants did Golden Arrow Resources apply to extend?

Golden Arrow Resources applied to extend the expiration of 15,804,012 outstanding warrants, originally set to expire between February 25 and March 21, 2023.

What is the new expiration date for the extended warrants of GARWF?

The new expiration dates for the extended warrants are February 25, 2024, March 5, 2024, and March 21, 2024.

What is the exercise price for the warrants extended by GARWF?

The exercise price for the warrants remains at $0.40.

What projects is Golden Arrow Resources currently exploring?

Golden Arrow Resources is actively exploring the San Pietro Cu-Au-Co project in Chile and has a portfolio of properties in Argentina.