on Gold Mountain Mining Corp (CVE:GMTN)
Gold Mountain Mining Corp. Secures Additional $600,000 Funding
Gold Mountain Mining Corp. has secured an additional $600,000 under an amended secured convertible debenture with Nhwelmen Construction Limited Partnership, increasing its financial obligations from $5,000,000 to $5,600,000. This funding provides the company with enhanced financial flexibility for its operational and strategic activities. The amended debenture retains previous terms, including a 12% annual interest rate and a conversion option at $0.08 per share, allowing up to 70 million shares if fully converted.
Maturing on June 18, 2028, the debenture is underpinned by a second priority security interest over all company assets. Gold Mountain intends to utilize this funding to bolster its working capital. Completion of the financing is conditional upon approval from the Toronto Stock Exchange.
R. E.
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