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The latest update is out from Gold State Resources Inc. ( (TSE:IMM) ).
International Metals Mining Corp., based in Vancouver, has announced a shares-for-debt transaction to settle over $518,000 in outstanding debt. The company will issue common shares and warrants to both arm’s-length and non-arm’s-length creditors. Insiders including the CEO and CFO are actively participating in this transaction, which is considered a related party transaction but is exempt from certain regulatory requirements. This move aims to improve the company’s financial position and requires approval from the TSX Venture Exchange.
More about Gold State Resources Inc.
YTD Price Performance: 18.75%
Average Trading Volume: 20,894
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: C$668K
For an in-depth examination of IMM stock, go to TipRanks’ Stock Analysis page.