Gold Mountain Mining Corp. (TSX.V: GMTN) is a BC based exploration and development company focused on developing their 100% owned Elk Gold Project, a past producing gold mine located 57 Km from Merritt, BC. The project is 2km off Highway 97C, and is accessible via an all seasoned gravel road.
Gold Mountain Mining (TSXV:GMTN) is pleased to announce that it has entered into an engagement letter with Canaccord Genuity Corp. and Gravitas Securities Inc. in connection with a private placement of up to 5,155,000 units of the Company at a price of $0.97 per Unit for gross proceeds to the Company of $5,000,350. Each Unit consists of one common share of Gold Mountain and one-half of one Common Share purchase warrant. Each Warrant will be exercisable to acquire one Common Share at a price of $1.25 for 36 months from the closing date of the Offering.
In addition, the Company has received an institutional lead order from Crescat Capital LLC. A Participation Right granted by Gold Mountain will provide Crescat the Right to purchase in future offerings of equity securities, or debt securities convertible into equity securities of the Company, the number of such securities necessary to enable the Subscriber to maintain the aggregate ownership percentage of the issued and outstanding common shares of the Company immediately prior to the closing of such future offering.
The Company intends to use the proceeds from the Offering to advance the Elk Gold Project as well as for working capital and general corporate purposes.
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*Disclaimer: Gold Mountain Mining Corp. is a marketing client