- Gold Mountain Mining Corp. (GMTN) is increasing its previously announced public offering to $18.5 million
- The underwriters have now agreed to purchase 14.8 million units for $1.25 per unit
- Proceeds will be used for the Elk Gold Project, and for working capital and general corporate purposes
- The offering is scheduled to close by April 21
- Gold Mountain is a British Columbia based gold and silver exploration company
- Gold Mountain Mining Corp. (GMTN) is down 16.78 per cent and is trading at $1.19 per share as of 2:51 p.m. ET
Gold Mountain Mining (GMTN) and Eight Capital, on behalf of a syndicate of underwriters, have agreed to increase the company’s public offering to $18.5 million.
The underwriters have now agreed to purchase, on a bought deal basis, 14.8 million units of the company at a price of $1.25 per unit.
Each unit consists of one common share of the company, and one-half of one common share purchase warrant. Each warrant is exercisable into one common share at an exercise price of $1.75 for two years after closing.
The net proceeds of the offering will be used for the development of the Elk Gold Project, and for working capital and general corporate purposes.
The offering is scheduled to close by April 21.
Gold Mountain is a British Columbia-based gold and silver exploration and development company focused on resource expansion at the Elk Gold Project, a producing mine near Merritt.
Gold Mountain Mining Corp. (GMTN) is down 16.78 per cent and is trading at $1.19 per share as of 2:51 p.m. ET.