Gold Mountain Limited (ASX:GMN) (“Gold Mountain” or the...

Gold Mountain Limited (ASX:GMN) (“Gold Mountain” or the “Company”) is pleased to announce it has received firm commitments from institutional, professional and sophisticated investors to raise $2.7 million by way of a single-tranche placement comprising the issuance of approximately 729.7 million new fully paid ordinary shares (“New Shares”) at an issue price of 0.37¢ per New Share (“Offer Price”) (the“Placement”).
The Placement was strongly supported by new and existing sophisticated and
professional investors. In particular, one cornerstone investor has subscribed for $2.3
million under the Placement and as such will emerge as the major shareholder of GMN.
As part of the investment they will have the right to appoint an additional director to GMN’s Board.