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Gold State Resources Inc. ( (TSE:IMM) ) has issued an update.
International Metals Mining Corp. has entered into shares-for-debt agreements to settle approximately $930,902 in obligations owed to both arm’s-length and related creditors by issuing units and common shares priced at $0.10, including warrants attached to units issued to arm’s-length creditors. The transaction, which includes participation by CEO Brian Thurston and remains subject to TSX Venture Exchange approval and statutory hold periods, is aimed at improving the company’s balance sheet, while the board has also terminated the previously announced acquisition of the Bell Lake Property, signaling a strategic refocus on its core copper-gold porphyry project in Peru and more disciplined capital allocation.
More about Gold State Resources Inc.
International Metals Mining Corp. is a Canadian mineral exploration and development company focused on acquiring, exploring and developing 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
See more insights into IMM stock on TipRanks’ Stock Analysis page.