Gold Mountain Announces Closing of Flow-Through Private Placement
Gold Mountain Mining (TSX:GMTN, OTCQB:GMTNF) has completed a non-brokered private placement of 22,000,000 flow-through common shares at $0.055 per share, raising gross proceeds of $1,210,000. The funds will be used for Canadian exploration expenses at the company's Elk Gold Project in Merritt, British Columbia, qualifying as flow-through mining expenditures.
The company will pay $84,700 in finder's fees and issue 1,540,000 non-transferable share purchase warrants, exercisable at $0.055 per share for 24 months. BC residents investing in these flow-through shares can claim a 20% provincial non-refundable tax credit on BC flow-through mining expenditures. The Qualifying Expenditures must be incurred by December 31, 2025, and renounced to subscribers by December 31, 2024.
Gold Mountain Mining (TSX:GMTN, OTCQB:GMTNF) ha completato un collocamento privato non intermediazione di 22.000.000 azioni ordinarie flusso attraverso a $0,055 per azione, raccogliendo un totale di $1.210.000. I fondi saranno utilizzati per le spese di esplorazione in Canada presso il progetto Elk Gold dell'azienda a Merritt, Columbia Britannica, qualificandosi come spese minerarie flusso attraverso.
L'azienda pagherà $84.700 in commissioni per trovatori e emetterà 1.540.000 warrants di acquisto di azioni non trasferibili, esercitabili a $0,055 per azione per un periodo di 24 mesi. I residenti della BC che investono in queste azioni flusso attraverso possono richiedere un credito d'imposta provinciale non rimborsabile del 20% sulle spese minerarie flusso attraverso in BC. Le spese ammissibili devono essere sostenute entro il 31 dicembre 2025 e rinunciate agli abbonati entro il 31 dicembre 2024.
Gold Mountain Mining (TSX:GMTN, OTCQB:GMTNF) ha completado una colocación privada no mediada de 22.000.000 acciones ordinarias flow-through a $0,055 por acción, recaudando un total de $1.210.000. Los fondos se utilizarán para gastos de exploración en Canadá en el Proyecto Elk Gold de la empresa en Merritt, Columbia Británica, calificando como gastos mineros flow-through.
La empresa pagará $84.700 en comisiones a los halladores y emitirá 1.540.000 opciones de compra de acciones no transferibles, que se podrán ejercer a $0,055 por acción durante 24 meses. Los residentes de BC que inviertan en estas acciones flow-through pueden reclamar un crédito fiscal provincial no reembolsable del 20% sobre los gastos mineros flow-through en BC. Los gastos elegibles deben incurrirse a más tardar el 31 de diciembre de 2025, y ser renunciados a los suscriptores antes del 31 de diciembre de 2024.
골드 마운틴 마이닝 (TSX:GMTN, OTCQB:GMTNF)는 22,000,000주 유상증자 일반주식을 주당 $0.055에 비중개 방식으로 완료하여 총 $1,210,000을 모집했습니다. 이 자금은 브리티시컬럼비아주 Merritt의 엘크 골드 프로젝트에 대한 캐나다 탐사 비용으로 사용될 예정이며, 유상증자 광업 경비로 인정됩니다.
회사는 $84,700의 수수료를 지불하고 1,540,000주의 비양도 주식매수권을 발행하여 24개월 동안 주당 $0.055에 행사할 수 있도록 합니다. 이 유상증자 주식에 투자하는 BC 거주자는 BC 유상증자 광업 경비에 대해 20%의 주 비환급 세액 공제를 청구할 수 있습니다. 적격 경비는 2025년 12월 31일까지 발생해야 하며, 2024년 12월 31일까지 구독자에게 양도되어야 합니다.
Gold Mountain Mining (TSX:GMTN, OTCQB:GMTNF) a réalisé un placement privé sans intermédiaire de 22.000.000 d'actions ordinaires en flux à 0,055 $ par action, levant un produit brut de 1.210.000 $. Les fonds seront utilisés pour des dépenses d'exploration au Canada pour le projet Elk Gold de la société à Merritt, en Colombie-Britannique, qualifiant comme des dépenses minières en flux.
La société paiera 84.700 $ en frais de recherche et émettra 1.540.000 bons de souscription d'actions non transférables, exerçables à 0,055 $ par action pendant 24 mois. Les résidents de la Colombie-Britannique investissant dans ces actions en flux peuvent demander un crédit d'impôt provincial non remboursable de 20 % sur les dépenses minières en flux en Colombie-Britannique. Les dépenses éligibles doivent être engagées d'ici le 31 décembre 2025 et renoncées aux souscripteurs d'ici le 31 décembre 2024.
Gold Mountain Mining (TSX:GMTN, OTCQB:GMTNF) hat eine nicht vermittelte Privatplatzierung von 22.000.000 flow-through Stammaktien zu $0,055 pro Aktie abgeschlossen und damit einen Bruttoerlös von $1.210.000 erzielt. Die Mittel werden für die kanadischen Explorationsausgaben beim Elk Gold Projekt des Unternehmens in Merritt, British Columbia, verwendet, welches als flow-through Bergbauausgaben qualifiziert.
Das Unternehmen wird $84.700 in Findergebühren zahlen und 1.540.000 nicht übertragbare Aktienoptionsscheine ausgeben, die 24 Monate lang zu $0,055 pro Aktie ausgeübt werden können. Einwohner von BC, die in diese flow-through Aktien investieren, können einen 20%igen nicht rückzahlbaren Steuergutschrift auf BC flow-through Bergbauausgaben beantragen. Die qualifizierenden Ausgaben müssen bis zum 31. Dezember 2025 angefallen sein und bis zum 31. Dezember 2024 an die Abonnenten abgetreten werden.
- Secured $1.21 million in funding for exploration activities
- BC investors eligible for 20% tax credit on flow-through mining expenditures
- Warrants issued at same price as offering, indicating confidence in current valuation
- Share dilution through issuance of 22 million new shares
- $84,700 in finder's fees and 1.54 million warrants add to transaction costs
- Subject to final TSX approval
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
VANCOUVER, BC / ACCESSWIRE / December 19, 2024 / Gold Mountain Mining Corp. (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) ("Gold Mountain" or the "Company") is pleased to announce that further to its news release dated December 10, 2024, it has closed a non-brokered private placement of 22,000,000 flow-through common shares (the "FT Shares") of the Company at a price of
The gross proceeds from the issuance of FT Shares will be used to incur "Canadian exploration expenses" as such term is defined under subsection (66.1(6) of the Income Tax Act (Canada) (the "Tax Act") and will qualify as "flow-through mining expenditures" as defined in subsection 127(9) of the Tax Act, and "BC flow-through mining expenditures" as defined in Subsection 4.721(1) of the Income Tax Act (British Columbia) (the "Qualifying Expenditures").
The Qualifying Expenditures will be incurred on or before December 31, 2025, and renounced to the subscribers with an effective date of no later than December 31, 2024, and as required under the Tax Act. The BC mining flow-through share ("BCMFTS") tax credit allows BC residents who invest in flow-through shares to claim a provincial non-refundable tax credit of
The proceeds from the Offering will be used to fund the Company's exploration expenditures on its Elk Gold Project located in Merritt, British Columbia.
In connection with the FT Offering, the Company will pay finder's fees of
The securities issued under the Offering are subject to a statutory hold period of four months and one day, in accordance with applicable Canadian securities laws.
The FT Offering remains subject to the final approval of the Toronto Stock Exchange.
About Gold Mountain Mining
Gold Mountain is a British Columbia based gold and silver exploration and development company focused on the Elk Gold Project, a producing mine located 57 KM from Merritt in South Central British Columbia. Additional information is available at www.sedar.com or on the Company's new website at www.gold-mountain.ca.
For further information, please contact:
Gold Mountain Mining Corp.
Email: cc@gold-mountain.ca
Website: www.gold-mountain.ca
Twitter: www.twitter.com/goldmtnmine_
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
Forward-Looking Statements
Forward-looking statements in this news release may include, but are not limited to, statements relating to those in respect of the FT Offering, the intended use of proceeds, the tax treatment of the shares to be issued under the FT Offering pursuant to the Tax Act and Taxation Act (British Columbia), the timing to renounce all Qualifying Expenditures in favor of the subscribers (if at all), and the conditions and approvals required and applications being filed in connection therewith. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this news release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation or intent to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.
Contact Information
Calvin Cheung
CFO
cc@gold-mountain.ca
6048666818
SOURCE: Gold Mountain Mining Corp
View the original press release on accesswire.com
FAQ
How much did Gold Mountain Mining (GMTNF) raise in its December 2024 flow-through offering?
What is the exercise price and term of GMTNF's finder warrants from the December 2024 placement?
When must GMTNF incur the qualifying expenditures from the flow-through offering?
What tax benefits do BC investors get from GMTNF's flow-through shares?
What project will GMTNF's flow-through financing proceeds be used for?
