(Golden Arrow, 10.Feb.2023) — Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF) 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 5 March 2023 and 3,462,034 warrants that are set to expire on March 21, 2023 to be extended to 25 February 2024, 5 March 2024 and 21 March 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 25 February 2019, 5 March 2019 and 21 March 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 12 August 2022, the company adopted a 10% rolling 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.
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