VANCOUVER, Aug. 25, 2016 /CNW/ - Gold Mountain Mining
Corporation (TSX-V:GUM) (the "Company" or "Gold Mountain")
announces the return to treasury and cancellation of 2,000,000
common shares of Gold Mountain Mining Corporation.
Gold Mountain issued an aggregate of 2,000,000 Gold Mountain
Common Shares to Almaden Minerals Ltd. ("Almaden") as bonus shares
pursuant to the terms of an asset purchase agreement between the
parties dated February 15,
2011. The shares are registered in the name of Gold Mountain
and were held for Almaden by Gold Mountain in escrow subject to the
satisfaction of certain release conditions to be satisfied by
July 26, 2016. The release
conditions were not satisfied by July 26,
2016 and Gold Mountain has returned the shares to its
treasury and they have been cancelled.
With the cancellation of the 2 million common shares, Gold
Mountain currently has 66,998,126 Gold Mountain Mining Corporation
Common Shares issued and outstanding.
About Gold Mountain Mining
Gold Mountain is a public resource company managed by an
experienced team of professionals with a solid track record of
exploration, development and operational success. The Company owns
100% of the 16,700 hectare Elk Gold property, which it intends to
develop into a precious metal producer, and is also seeking
additional near term production assets to further build shareholder
value. Additional information is available at www.sedar.com or on
the Company's website at www.aumtn.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this Release.
ON BEHALF OF THE BOARD
"Chris McLeod"
Chris McLeod, P Eng., Chief
executive Officer
|
Forward-Looking
Statements: This news release contains forward-looking
statements that are based on the Company's current expectations and
estimates. Forward-looking statements are frequently characterized
by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur, and include, without limitation, statements regarding
the closing of further tranches of the Offering, the use of
proceeds from the Offering and the Company's plans with
respect to the exploration and development of its projects. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or
results to differ materially from estimated or anticipated events
or results implied or expressed in such forward-looking statements.
Any forward-looking statement speaks only as of the date on which
it is made and, except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements
are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent
uncertainty therein.
|
SOURCE Gold Mountain Mining Corporation