Gold Mountain Mining Faces Receivership Amid Financial Demands

Gold Mountain Mining Corp., along with its subsidiaries Bayshore Minerals Incorporated and Elk Gold Mining Corporation, has received payment demands from its creditor, Nhwelmen Construction GP Ltd. The demands total approximately $11.16 million, with claims related to contract work and a convertible debenture. Unable to settle the debts, Gold Mountain's Board consents to entering receivership, pending a court hearing.

Nhwelmen plans to apply for a receiver, MNP LLP, through the British Columbia Supreme Court. The ruling is expected on July 31, 2025, and the company’s shares have been halted on the TSX. During this period, the receiver will manage Gold Mountain’s operations and financial inquiries.