Business
Goldgroup Announces Completion of Convertible Debt Financing and TSX-V Listing
Vancouver, British Columbia--(Newsfile Corp. - February 16, 2024) - Goldgroup Mining Inc. (TSX:GG...
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"Goldgroup Announces Completion of Convertible Debt Financing and TSX-V ListingVancouver, British Columbia--(Newsfile Corp. - February 16, 2024) - Goldgroup Mining Inc. (TSX:GGA) (OTC Pink:GGAZF) (BMV SIX:GGAN.MX) (\"Goldgroup\" or the \"Company\") is pleased to announce that it has closed USD$100,000 of the previously announced convertible debt financing (\"Convertible Debt\"). The Convertible Debt is unsecured, bears interest at 12% per annum, will be repayable on June 15, 2025 and is convertible into units of the Company at CAD $0.10 per unit at a fixed FX rate of 0.76 USD to CAD at the election of the holder. Each unit will be comprised of one common share of the Company and one-half purchase warrant, with each full purchase warrant exercisable for one common share of the Company at an exercise price of $0.20 per warrant expiring June 15, 2025. No commissions were paid in connection with placement of the Convertible Debt and the proceeds will be used to improve the Company's Cerro Prieto heap leach gold mining operations and for general working capital requirements. TSX Venture Exchange TransitionThe Company also announces that, further to its previous news releases, the common shares of the Company will commence trading on the TSX Venture Exchange (the \"TSX-V\") effective at the opening of trading on Tuesday, February 20, 2024 under the same trading symbol \"GGA\". The Company will be delisted from trading on the Toronto Stock Exchange at the close of business on Friday, February 16, 2024.About GoldgroupGoldgroup is a Canadian-based mining Company that owns and operates the Cerro Prieto heap-leach gold mine located in the State of Sonora, Mexico and is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance, and exploration in Mexico. For further information on Goldgroup, please visit www.goldgroupmining.com On behalf of the Board of DirectorsInvestor RelationsToll Free: 1-877-655-ozAu (6928)THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.The TSX has neither reviewed nor accepts responsibility for the adequacy or accuracy of this release.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, no...