Golden Arrow Resources (GRG.V) has announced the company will not renew the employment contract of CEO Carlos H. Fernandez Mazzi. Golden Arrow won’t proceed with the previously announced loan and private placement either.

As reason for this sudden move, Golden Arrow cites the ‘adjustment of the company’s strategy under the current market conditions’. Joseph Grosso, who’s currently the Executive Chairman, will resume the role of CEO and President again.

> Click here to read the press release

Disclosure: The author holds a long position in Golden Arrow Resources. Golden Arrow Resources is a sponsor of the website. Please see our disclaimer for current positions.

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