on Gold Mountain Mining Corp (isin : CA38065L1058)
Gold Mountain Mining Corp Faces Notice of Default & Breach of Contract
Gold Mountain Mining Corp, a gold and silver production company, announces receiving a notice of default from Hedge Minerals Corp. This comes after Gold Mountain failed to meet payment obligations under a Promissory Note dated September 13, 2023. Hedge Minerals demands immediate payment including the original amount, a six-month break fee, additional interest, and costs related to legal and professional consultations.
The company is in discussions to restructure the terms of the Note aiming to resolve the current default and breach. Meanwhile, Gold Mountain also reported ongoing default issues with Nhwelmen Construction LP Ltd concerning a General Service Agreement without a resolution in sight.
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