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The latest announcement is out from Gold State Resources Inc. ( (TSE:IMM) ).
International Metals Mining Corp. has received final approval from the TSX Venture Exchange to complete a shares-for-debt transaction totaling approximately $855,000, converting obligations to both arm’s-length and related creditors into equity. The deal strengthens the company’s balance sheet by issuing over 7.8 million units, each consisting of a common share and warrant, to arm’s-length creditors and 749,900 common shares to its CEO to settle insider debt, with all new securities subject to standard hold periods, thereby improving liquidity while modestly diluting existing shareholders’ stakes.
More about Gold State Resources Inc.
International Metals Mining Corp. is a Canadian mineral exploration and development company focused on acquiring, exploring and advancing critical metals and mineral assets, with its primary focus on a 100%-owned copper-gold porphyry property in Peru.
Average Trading Volume: 16,560
Technical Sentiment Signal: Hold
Current Market Cap: C$1.81M
For detailed information about IMM stock, go to TipRanks’ Stock Analysis page.