The team over at Gold Mountain Mining Corp. (TSX.V:GMTN) have been grinding away on executing milestones to get their 100% owned Elk Gold Project to the next stage, and ultimately bring it into production starting Q4 2021.
Gold Mountain (TSX.V:GMTN) is pleased to announce that it has closed its brokered private placement of units and has issued 10,310,000 Units at a price of $0.97 per Unit for aggregate gross proceeds of $10,000,700. The Offering was led by Canaccord Genuity Corp. and Gravitas Securities Inc,
The company received tremendous support from the investment community, with lead orders coming from some of the most influential fund managers within the mining and metals space - Crescat Capital, and Equity Management Associates.
Kevin Smith, CEO & Director of Gold Mountain, commented, "Through successfully completing this offering, we have secured our Equinox property payment and the capital required to advance our exploration and production ambitions. Despite headwinds from a consolidating gold market, this offering was oversubscribed with a lead order from Crescat Capital and orders from our long-term shareholders. With drills turning and a clear path to production, we look forward to continuing to build shareholder value by developing B.C.'s next high-grade gold mine."
Gold Mountain (TSX.V:GMTN) is now positioned perfectly to further develop their Elk Gold Project, and now has the funding to grow the company into a production stage level, and will start to generate cash-flow from the mine.