Gold Mountain Mining Corp. raises $6.5M through a 10-year, 10% debenture convertible into 81.25M common shares, with Nhwelmen Construction GP Ltd.
Gold Mountain Mining Corp. raises $6.5M through a convertible secured debenture, to be issued to an investor with a 10-year maturity and 10% annual interest. The debenture is convertible into 81.25M common shares at $0.08 per share. The transaction involves Nhwelmen Construction GP Ltd., an existing insider, and its affiliate; upon conversion, they would own 34.05% of common shares. TSX approval is required; the issuance does not affect company control and meets financial hardship requirements.
August 16, 2024
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