Gold Mountain Mining Corp. (TSE:GMTN) has released an update.
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Gold Mountain Mining Corp. has negotiated agreements with secured creditors to settle and defer over $9 million in debt through cash payments and common share issuances. In addition, the company is converting up to $1.5 million in unsecured debt into common shares and has launched a private placement offering aimed to raise $750,000. These financial maneuvers are designed to enhance operations at the Elk Gold Mine and provide general corporate funding without insider participation.
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