Spanish Mountain Gold Announces Debt Settlement Agreement
Spanish Mountain Gold Ltd. (the " Company " or " Spanish Mountain Gold ") ( TSX-V: SPA | FSE: S3Y | OTCQB: SPAUF ) announces that it has entered into a debt settlement agreement with Whittle Consulting Ltd., an arm's length creditor of the Company (' Whittle ') to settle an aggregate of $379,720 in outstanding debt (the ' Debt '). In settlement of the Debt, the Company will (i) pay Whittle $14,320, in cash, and (ii) issue 2,110,919 common shares in the capital of the Company (the ' Shares ') as directed by Whittle at a price of $0.1731 per Share (the ' Debt Settlement '). The Debt relates to past services rendered by Whittle Consulting Ltd. to the Company.
Closing of the Debt Settlement is subject to a number of customary closing conditions, including, but not limited to, approval from the TSX Venture Exchange. The Shares to be issued in connection with the Debt Settlement will be subject to a statutory four month plus a day hold period in accordance with applicable securities legislation.
About Spanish Mountain Gold Ltd.
Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project (Project) towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. The Company will publish, within 44 days of this news release, a new NI 43-101 Technical Report setting out the new executable vision to advance the Project. This new NI 43-101 Technical Report, with a de-risked and optimized Preliminary Economic Assessment (PEA) with an updated Mineral Resource Estimate (MRE), will supersede the prior technical report of the Company. Upon receipt of the new PEA and updated MRE, the Company will decide the next steps to advance the Project to position the Company to make a construction decision in or before 2027. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details of the Company are available on www.sedarplus.ca and on the Company's website: www.spanishmountaingold.com.
On Behalf of the Board,
Spanish Mountain Gold Ltd.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS:View source version on businesswire.com:https://www.businesswire.com/news/home/20250704527855/en/
CONTACT: For more information:
Peter Mah, CEO
(604) 601-3651
[email protected]
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES
SOURCE: Spanish Mountain Gold Ltd.
Copyright Business Wire 2025.
PUB: 07/04/2025 08:00 PM/DISC: 07/04/2025 08:01 PM
http://www.businesswire.com/news/home/20250704527855/en
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