Debt and Equity Restructuring
Under the terms of the agreement, Gowest Gold will convert $2.9 million of unsecured debt into shares at a price of $0.065 per share. The company will also issue additional shares to raise an additional $800,000 to fund ongoing operations.
Support from Shareholders
The support of existing shareholders in this restructuring plan highlights their confidence in the company’s assets and management team. This vote of confidence is crucial for Gowest Gold as it navigates challenging financing markets in the mining sector.
Path Forward
By restructuring its debt and equity, Gowest Gold can now focus on advancing its Bradshaw gold deposit towards production. The company’s ability to secure funding and support from its shareholders positions it well for future success in the gold mining industry.
