OTCPK:PGMFF - Post by User
Post by
Digger0144on May 24, 2022 9:55pm
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Post# 34705334
Service Contractors...Vote of Confidence..
Service Contractors...Vote of Confidence..VANCOUVER, B.C. – Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”) is pleased to announce it will enter into securities for debt settlement agreements with certain service contractors of the Company (the “Creditors”) pursuant to which it will issue 20,922,914 units of the Company (the “Units”) at a price of $0.15 per Unit to the Creditors in order to settle outstanding debts totaling $3,138,437 (the “Debt”).
To have certain service contractors that have been on site and have been working in the trenches for quite some time now agree to be paid in shares that have a hold period of four months is really telling in the confidence they have in the operation where it is present day.
If they had any inclination that the operation will fail in the near term they would of demanded payment in cash rather then risk the share price going to zero in the next four months or beyond. This is most definitely a vote of confidence that Pure Gold will succeed moving forward...infact they will share in the turnaround in terms of share price appreciation as the turnaround takes holds.
What we have here is confirmation from objective entities that a turnaround is in progress...lovely indeed!
Tomorrow, they will receive the funds they need to move forward and complete the turnaround process...all aboard! Minimum 30 million equity raise, plus Sprott Loan of 6 million US...plenty to get the job done!
All the Best!
Digger0144