May 3, 2013: Vancouver, B.C. – Golden Arrow Resources Corp. (Stock Profile – TSXV:GRG) has received approval from the TSX Venture Exchange to complete the loan to Carlos Fernandez Mazzi, the company’s president and chief executive officer, to provide sufficient funds for Mr. Fernandez to purchase 750,000 units of Golden Arrow, pursuant to a private placement, at the price of 30 cents per unit.
Each unit consists of one common share of Golden Arrow and one non-transferable share purchase warrant. Each whole warrant will entitle Mr. Fernandez to purchase one additional common share of Golden Arrow for a period of 24 months at the price of 37 cents per common share. All securities issued are subject to a minimum four-month hold period pursuant to Canadian securities laws. The loan is non-interest bearing unless there is a default in repayment, and will be secured by a first-priority charge and security interest over the units acquired by Mr. Fernandez.
To learn more about Golden Arrow Resources – CLICK HERE.