Business
Brookmount Gold Corp. ("BMXI") Enters Preliminary Agreement with J.J. Astor & Co. for $2,000,000 Production Expansion & Working Capital Debt Facility
Brookmount Gold Corp. ("BMXI") Enters Preliminary Agreement with J.J. Astor & Co. for $2,000,000 Production Expansion & Working Capital Debt Facility.
About this update from Brookmount Explorations, Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Brookmount Gold Corp. (\"BMXI\") Enters Preliminary Agreement with J.J. Astor & Co. for $2,000,000 Production Expansion & Working Capital Debt Facility\r\n \r\n \r\n\r\n\r\nBrookmount Gold Corp. (\"BMXI\") Enters Preliminary Agreement with J.J. Astor & Co. for $2,000,000 Production Expansion & Working Capital Debt Facility\r\n\r\n\r\n\r\n\r\n\r\nRENO, NV / ACCESS Newswire / June 24, 2025 / Brookmount Gold Corp. (Brookmount Explorations, Inc.) (OTC PINK:BMXI), a US domiciled issuer with operating gold mines in Southeast Asia and exploration and production assets in North America, today announced that it has entered into a preliminary agreement with J.J. Astor & Co., a premier US based private credit solutions firm, for a credit facility of $2,000,000, with an initial tranche of $500,000 to be provided immediately at closing, scheduled by June 30. Funds from the initial tranche of the credit facility will be applied, in part, to finance capital and manpower resources required to commence gold production at the Company's Yukon property which currently has a stockpile of approximately 30,000 oz of previously mined gold tailings which retain an estimated gold (au) residual of 1gram/tonne, potentially generating initial revenue for the Company of up to $3 million.\r\n It is anticipated that a portion of the credit facility will be used to pay down the Company's remaining convertible debt, as part of a recapitalization process to position the company for uplisting. As part of the terms of the credit facility from J.J. Astor & Co., it is also agreed that the Company limit its usage (share issuance) under the recently qualified Reg.A offering to a maximum of $250,000 (or 12.5 million new shares).\r\n Brookmount has recently announced its intention to acquire and merge its North American operations with Principal Solar (OTC Pink:PSWW\") and managements of both companies believe that this facility, provided through JJ Astor, will be strategically beneficial, both in providing a valuable source of financing to upgrade and expand production operations, in addition to reducing exposure to other, more dilutive forms of funding.\r\n About Brookmount Gold:\r\n Founded in 2017, Brookmount Gold is a high-growth gold-producing company incorporated and listed in the United States. The Company holds a strong...